Iberclear, BME’s Spanish central securities depository, has been granted authorisation to continue operating under the EU's Central Securities Depository Regulation (CSDR), a new set of regulations aimed at improving the settlement of securities in the EU.
Iberclear joins other European central securities depositories already operating under the new criteria.
CSDR seeks shorter settlement periods, higher security levels through the introduction of a settlement discipline and control regime and supervision of the governance and functioning of depositories.
Jesús Benito, CEO of Iberclear, said: “With this license Iberclear continues contributing actively to the efforts made to harmonise post-trade in Europe, taking another step forward to guarantee access to the capital markets for issuers and participants while BME delivers on another fundamental pillar of its strategic plan.”
