CSDR LEI requirement Deadline
- 13th July, 2020
All securities transactions require a set of reporting processes which lead to the settlement of the transaction, i.e the buyer receives the securities in return for the monetary cost. A CSD provides the platform through which the transaction is enabled. Their role is to enable the registration of securities, enable the sale and purchase of securities, keep tabs on records and ownership exchanges.
CSDR applies to CSDs based in, Europe such as Clearstream, Euronext, Euroclear and various national Stock Exchanges. You can find a full list of CSDs here: ECSDA Members |
CSDR standardizes and regulates the settlement of securities and CSDs. The regulation ensures efficiency, security and transparency in cross border settlements within the EU. The CSDR specifically speeds up the rate of the transaction process and can issue penalties in order to encourage successful trading.
CSDR also has strict guidelines and codes of conduct to which CSDs must adhere. This is controlled through a passport system which permits cross border settlements. Ultimately CSDR encourages a level playing field in the international markets and between CSDs. |
CSDR LEI requirement Deadline
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In line with the “No LEI, No Trade” ruling, if an LEI is missing or ‘Lapsed’ CSDs will be able to take measures such as blocking the transaction.
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