Market participants may have welcomed regulator ESMA’s recent proposal to postpone the mandatory buy-ins in cases of trade settlement failures. Still, the unsolved issues are aplenty.
With only four months to go, a postponement is rumoured but not confirmed, and the regulation of the buy-ins only exists on a very high level.
Kristina Kledal, Lead Business Developer, Trading & Settlement, Jyske Bank, was on stage Thursday at the PostTrade 360° Copenhagen conference. She shared the session with Pernille Christiansen, Specialkonsulent of Finanstilsynet.
Kristina Kledal presented a long list of lingering unclarities – even impossibilities – in implementing the practicalities of CSDR. While the bank has contracts about three months’ notice with clients, the EU might well present last-minute changes in January.
“That kind of puts us between a rock and a hard place,” she said.
The session discussed what could be a timeline for the necessary improvements in a CSDR Refit.
• News around the PostTrade 360° Copenhagen event is gathered here.
• The 36-page pdf magazine, which includes the agenda, can be downloaded by clicking here.
• For a 4-page breakout of the agenda section, click here.
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