CSD Regulation

The Central Securities Depository Regulation (CSDR) is the latest step in establishing an EU-wide harmonised regulatory framework for financial market infrastructures.

Settlement across borders presents higher risks and costs for investors within one country. To harmonise rules in this area the EU has adopted a CSDR.

The main objective of the regulation is to increase the safety and efficiency of securities settlement and settlement infrastructures in the EU. It does this by introducing, amongst others:

  • A passport system allowing authorised CSDs to provide their services across the EU
  • A settlement discipline regime which includes cash penalties and mandatory buy-ins for failing transactions.

Read more on CSDR