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Central Securities Depository Regulation (CSDR) (Regulation (EU) 909/2014)) creates measures for the authorisation and supervision of European Union (EU) Central Security Depositories (CSDs). Its aim is to create a common set of prudential, organisational, and business conduct standards within the EU.
CSDR should be considered as part of a wider set of regulations which together support the Capital Markets Union (CMU).
Through its CSDR Working Group and associated streams, ISLA is working with its members and other industry stakeholders to identify amongst other things; the causes of failing transactions and ways to minimise them, where possible seek market solutions that can help, assist member firms in understanding the new process, and consider standardised practices around buy-in processes and liability.