Final piece of the CSDR puzzle for Euroclear as UK and Ireland CSD gains license
Seventh and final CSDR license for Euroclear Group as UK and Ireland is approved by Bank of England.
Seventh and final CSDR license for Euroclear Group as UK and Ireland is approved by Bank of England.
Panellists at the Network Forum Autumn Meeting echoed fears that plans comply with the rules have been put on hold since the announcement of its delay.
SWIFT plans to play a significant role in helping the industry to minimise securities settlement failures as part of its new two-year strategy.
The proposal came in response to a request from the European Commission to further postpone the Settlement Discipline Regime.
Global Custodian understands advanced discussions are underway among EU regulators to propose a delay, though confirmation of this could still be months away.
Lobbyists likely to use UK decision to not implement the settlement discipline regime as further leverage in calls for a delay.
The Treasury said it will not implement the SDR from February 2021, but will consider the future approach of the rules to the UK’s own post-trade framework.
The combined solution will deliver a real-time platform for clients to manage the settlement fail and buy-in process.
The FinTech firm has signed a partnership with Clearstream and has secured the commitment of Janus Henderson Investors which will use its CSDR solution.