ISLA publishes CSDR: Settlement Discipline Impact to Securities Lending

ISLA is delighted to publish CSDR:Settlement Discipline Impact to Securities Lending, which investigates CSD Regulation (EU)No 909/2014 and its impact on settlement disciplines from the perspective of Securities Lending activity.

The paper, created by the ISLA CSDR Working Group, draws on results from the 2018 ISLA CSDR survey of members to identify key trends and practices that could result in fines or settlement buy-ins. The CSDR Working Group will continue working throughout 2019 to clarify issues and propose practices to minimise potential negative impacts of CSDR.

Central Securities Depositories Regulation (CSDR) represents an important step in the harmonisation of EU CSD’s which will in turn create new efficiencies in the settlement of both Securities Lending transactions and the wider market place.

“This is a major step forward for the industry as we work with our members to understand the full ramifications of CSDR” Adrian Dale, Director of Regulation and Market Practice, ISLA. 

Download the paper here

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