The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Regulator, today announces that it will start publishing information on trading venues with the highest turnover for bonds. This information is needed by CSDs in order to apply cash penalties under the Central Securities Depositories Regulation (CSDR).
ESMA aims to publish this data for the first time by 1 February 2022 and will update it on a quarterly basis. This will enable CSDs to access centralised and transparent information for the application of cash penalties for bonds.
The aim of the CSDR is to harmonise certain aspects of the settlement cycle and the settlement discipline, and to provide a set of common requirements for CSDs operating securities settlement systems across the EU.
Next steps
In line with its Strategic Orientation 2020-2022, ESMA will publish information on trading venues identified by Market Identifier Code (MIC) and update it on a quarterly basis.