ISLA Publishes CSDR: Settlement Discipline Impact to Securities Lending

Phase 2: Recommendations, Guidance & Future Practices

Following on from the initial paper entitled CSDR: Settlement Discipline Impact to Securities Lending – Phase 1: Identifying the Issues, ISLA is delighted to publish Phase 2: Recommendations, Guidance & Future Practices.

This paper, once again produced by the ISLA CSDR Working Group, builds upon the findings from the 2018 ISLA CSDR survey of members and the issues scoped in the Phase 1 document to propose recommendations and future practices to help minimise potential negative impacts of the regulation.

Central Securities Depositories Regulation (CSDR) represents an important step in the harmonisation of EU CSDs which will, in turn, create new efficiencies in the settlement of both Securities Lending transactions and the wider market place.

Adrian Dale, Director, Regulation & Market Practice commented, “The work undertaken by the CDSR Working Group has shone a light on legacy practices that were perhaps overdue market review. We look forward to working on the implementation phase with members, mindful that any work will need to consider impacts across all markets and regulations”.

To access the paper, please click here.

Details of all CSDR working groups and streams can be found on the Working Groups page. Up-to-date meeting minutes, documents and external links can be found in the CSDR section of the site.

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