Esma publishes discussion paper on CSD regulation
ESMA is calling for public feedback on possible content to draft technical standards on matters such as settlement discipline, CSD registration and requirements, including confirmation rules (acceptance or rejection of terms in good time before the intended settlement date) for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures.
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ESMA has a mandate to draft technical standards on more than 30 aspects under CSDR.
As provided for by the ESMA Regulation, a full public consultation will be conducted on the draft technical standards before they are submitted to the European Commission (EC). Therefore, following this DP, and on the basis of the relevant input received, ESMA will finalise its proposed draft technical standards, that will be included in a consultation paper. The date of publication of such a consultation paper and the commenting period will depend on the date of publication of the CSDR in the Official Journal and the final deadline for ESMA to deliver the draft RTS and ITS to the EC.
A public hearing will take place on 14 April at ESMA in Paris, from 13h30 to 17h00.
The closing date for comments is 22 May 2014.