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CSDR: there are yet to be changes in industry behaviour
23 March 2021 UK
Reporter: Maddie Saghir

“The industry would like to start seeing trade fails come down to the point where the industry’s investment into this space will kick in but I'm certainly not seeing this yet," says BNY Mellon's Martin Smith

CSDR consultation responses show majority in favour of buy-ins becoming voluntary
19 March 2021 Belgium
Reporter: Maddie Saghir

Responses from the European Commission’s CSDR consultation found that 51 out of 91 respondents said the buy-in regime should change from a mandatory requirement to a voluntary one

Euroclear shifts €100bn of Irish securities from UK to EU operations
18 March 2021 Ireland
Reporter: Becky Bellamy

The settlement of Irish securities worth around €100 billion traded on Euronext Dublin markets on 15 March took place in Euroclear Bank on 17 March

Alliance of 14 trade body call for CSDR buy-in delay
12 March 2021 UK
Reporter: Drew Nicol

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

EC publishes CSDR Inception Impact Assessment
12 March 2021 Brussels
Reporter: Maddie Saghir

The review, which will remain open until 5 April, will assess how the EU rules on central securities depositories are working

Symphony collaborates with AccessFintech to extend data sharing
10 March 2021 UK
Reporter: Maddie Saghir

AccessFintech’s data management and workflow solution will integrate with Symphony’s communication platform and trusted user directory

SWIFT approves KDPW ISO20022 buy-in message for CSDR
26 February 2021 Poland
Reporter: Drew Nicol

As the first buy-in messages ever to be registered, they set the reporting standard, developed from scratch in ISO20022, KDPW says

AFME: CSDR’s SDR mandatory buy-ins present ‘significant risk’ to Europe’s COVID recovery
12 February 2021 UK
Reporter: Becky Bellamy

“The periods of high volatility and low liquidity observed during COVID-19 crisis would have been further exacerbated by the existence of a mandatory buy-in regime,” AFME explains

ISLA: CSDR buy-ins may deter asset owners from lending
03 February 2021 UK
Reporter: Drew Nicol

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"

CSDR consultation: EACH calls for delays to settlement discipline regime
03 February 2021 Brussels
Reporter: Becky Bellamy

EACH explains that a delay to CSDR’s SDR would provide market infrastructures and other market participants sufficient time to implement and would also avoid unnecessary duplicative implementation costs

CSDR consultation is over, ICMA underscores need for mandatory buy-in reforms
02 February 2021 UK
Reporter: Drew Nicol

ICMA has presented a ‘waterfall’ of proposals for implementing the SDR, based on its members’ assessment of what it considers most optimal in terms of minimising disruption to Europe’s bonds markets while still attaining the objectives of CSDR

Brexit: UK sets out final SFTR, EMIR and MIFID II reporting rules
23 December 2020 UK
Reporter: Drew Nicol

The FCA has confirmed the final reporting rules post-Brexit but says it will not fine non-compliant firms that can show their homework