Will the upcoming fines and mandatory buy-ins under CSDR’s much-debated settlement discipline regime actually lead to improvements in Denmark’s settlement efficiency? Hm, not so certainly. The panel on stage for PostTrade 360° Copenhagen on Thursday morning listed some of the possible approaches to the challenge.
On stage were …
Lene Holm Mouritzen, senior specialist at Nykredit Portefølje Adm.,
Kristina Kledal, senior business developer, trading, settlement development, Jyske Bank,
Pernille Linde Christiansen, chief special adviser, capital market analysis, Danish Financial Supervisory Authority, and
Jette Styrishave Kure, lead legal advisor, VP Securities.
The session was led, remotely from Oslo, by Ulf Noren, sub custody sales and relationship management, SEB
“I think this is an opportunity to tidy up our processes,” said Lene Holm Mouritzen.
“I think we will be forced to have the agreements internally and with the counterparties in place a bit earlier than today to avoid for example late matching. But on the efficiency … I don’t think it will affect the efficiency that much.”
Kristina Kledal shared examples of consequences, which might well be unintended, and Pernille Linde Christiansen pointed out that there could still occur changes to the regulation on both level 1 and level 2 of the regulation pyramid.