Deutsche Boerse Group’s post-trade services provider Clearstream has obtained the Central Securities Depository Regulation (CSDR) licences for Clearstream Banking, its international central securities depository (ICSD).
The authorisation marks a key step in achieving full CSDR compliance for all of Clearstream’s CSDs.
The licences were granted by the Luxembourg Commission de Surveillance du Secteur Financier and include core and non-banking type ancillary services, banking services and an interoperable link.
Clearstream’s German CSD and Luxembourg CSD already hold licences pursuant to Article 16 CSDR. With Clearstream Banking’s authorisation, now only one more licence, for banking services for its German CSD, is outstanding.
Stephan Leithner, Clearstream chairman and member of the executive board of Deutsche Boerse, comments: “CSDR is a key pillar of the EU’s post-trade regulation.”
According to Leithner, by requiring CSD services to be provided by trusted, licensed infrastructures set up according to stringent and transparent rules, CSDR aims to create a level playing field and promote market stability and integrity.
“These goals align perfectly with Clearstream’s mission of providing a safe, efficient and trusted post-trade ecosystem for all market participants,” he says.
CSDR aims to make markets more stable, transparent and efficient by regulating securities settlement and settlement infrastructures in a harmonised manner across the European Union.
Earlier this month, the European Association of Clearing Houses urged the European Commission to agree with the European Securities and Markets Authority to further delay the implementation of the CSDR settlement discipline regime beyond February 2022.
