ICMA to minimise Europe repo disruption
15 April 2019 London
Image: Shutterstock
The International Capital Market Association (ICMA) has explained that its working group is looking to minimise the potential disruption to the functioning and liquidity of the European repo and collateral markets ahead of CSDR regulation.
The ICMA Quarterly Report noted that its Central Securities Depository Regulation settlement discipline (CSDR-SD) working group will do this by looking to develop market best practice and request regulatory guidance.
According to ICMA, this marks part of their broader work related to CSDR-SD measures as they apply to the European bond markets.
Working alongside ICMA to achieve this aim will be the ERCC and the International Securities Lending Association and other market stakeholders.
It was also noted that they are focused on the implications and practical challenges related to securities financing transactions, in particular with respect to the mandatory buy-in regime.
The regulatory technical standards (RTS) for settlement discipline under CSDR was published in the Official Journal of the EU in September last year.
The RTS, including all mandatory buy-in requirements, will start applying after a 24-month period, in September 2020.
The ICMA Quarterly Report noted that its Central Securities Depository Regulation settlement discipline (CSDR-SD) working group will do this by looking to develop market best practice and request regulatory guidance.
According to ICMA, this marks part of their broader work related to CSDR-SD measures as they apply to the European bond markets.
Working alongside ICMA to achieve this aim will be the ERCC and the International Securities Lending Association and other market stakeholders.
It was also noted that they are focused on the implications and practical challenges related to securities financing transactions, in particular with respect to the mandatory buy-in regime.
The regulatory technical standards (RTS) for settlement discipline under CSDR was published in the Official Journal of the EU in September last year.
The RTS, including all mandatory buy-in requirements, will start applying after a 24-month period, in September 2020.
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