The European Securities and Markets Authority (ESMA) has a mandate to draft technical standards on more than 30 aspects under the draft Regulation on central securities depositories (CSDR).
ESMA has now published a Discussion Paper on the possible content of the draft technical standards on matters such as settlement discipline, central security depository (CSD) registration and requirements, including confirmation rules for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures.
The deadline for comments on the Discussion Paper is 22 May 2014. ESMA will review the comments received and will then finalise its proposed draft technical standards which will be included in a Consultation Paper. The date of publication of the Consultation Paper and the commenting period will depend on the data of the publication of the CDSR in the Official Journal of the EU and the final deadline for ESMA to deliver the draft regulatory technical standards and implementing technical standards to the European Commission.
View ESMA launches Discussion Paper on Central Securities Depositories Regulation, 20 March 2014