CSDR Highlights

1. Supervision: New supervision and prudential requirements for Central Securities Depositories, Depository Participants and Custodians. This enhances safety and security of an important piece of market infrastructure. 

 

2. Client Asset Segregation: Offer customers choice on how assets are held: omnibus vs. segregated

 

3. Failed Trades: Enforce Settlement Discipline

 

4. Digital Settlements: Dematerialise all transferable securities for trading

on stock exchange.

6. Settlements Internalisation: To report on settlements between accounts at a CSD / Custodian for trades done on trading platforms. (Note: this does not happen with exchange trades.)

 

5. EU as one issuance market: Issuers may issue in securities in any EU country opting for any EU CSD; not the CSD of state of domicile.