Deutsche Börse Group’s post-trade services provider Clearstream has obtained the CSDR licence for Clearstream Banking AG, its German central securities depository. The licence was granted by the German Federal Financial Services Authority BaFin pursuant to Art. 16 CSDR (core and non-banking type ancillary services). The authorisation is effective as of 21 January 2020.
The key objectives of the Central Securities Depositories Regulation (CSDR) are to increase the safety and efficiency of securities settlement and settlement infrastructures in the European Union and to establish an enhanced level playing field among central securities depositories (CSDs). For CSDs, it seeks to create a harmonised set of rules for authorisation, operation and governance, as well as for the provision of services. In this context, CSDR requires all CSDs to apply for re-authorisation to receive a CSDR licence.
Mathias Papenfuss, Head of Regulatory Implementation at Clearstream, commented: “We are delighted that Clearstream Banking AG has been authorised as CSD under CSDR. Receiving this licence is an important achievement; it is proof of our continuous efforts to ensure that we are in the best position to support the safety and stability of financial markets and offer services aligned with European standards to all market participants.”