The International Securities Lending Association (ISLA) is a leading non-profit industry association, representing the common interests of securities lending and financing market participants across Europe, Middle East and Africa.
The International Securities Lending Association has responded to the European Commission consultation regarding proposed amendments to settlement discipline provisions of the Central Securities Depositories Regulation
ISLA, ICMA and ISDA are among 14 trade bodies to renew calls for the buy-ins rules to be shelved until "essential" amendments are in place and give in-scope entities more time to prepare
To avoid damaging market liquidity and stability, the trade body suggests the CSDR settlement discipline regime should be split in two, with cash penalties going live in February and the buy-ins held pending a “in-depth assessment"
Industry
Industry