BNY Mellon CSD to Settle Transactions from Luxembourg Stock Exchange

BNY Mellon's Brussels-based central securities depository, BNY Mellon CSD SA/NV, has been approved by the Luxembourg Stock exchange to settle transactions in securities listed on the two markets operated by the exchange.
By Jake Safane(2147484770)
BNY Mellon’s Brussels-based central securities depository, BNY Mellon CSD SA/NV, has been approved by the Luxembourg Stock exchange to settle transactions in securities listed on the two markets operated by the exchange.

This is the first such recognition of the CSD by an exchange. “This is a significant step in building out our CSD entity as it gives us the ability to provide straight-through processing for new Luxembourg-listed issues of securities and funds. That new ability and our recognized securities settlement system status are set to become ever more important as new regulations impact CCPs, UCITS and other regulated entities,” says Chris Prior-Willeard, CEO of BNY Mellon CSD SA/NV.

BNY Mellon launched the CSD in December 2012. Then in May 2013, the CSD signed the Framework Agreement with the Eurosystem to allow it to outsource settlement to the T2S platform once T2S goes live.

“This recognition will extend the range of securities eligible for listing and trading on the Luxembourg Stock Exchange. In addition, it leverages the network of links with CSDs participating in the TARGET2-Securities (T2S) project, including for securities issued outside of Europe,” says Robert Scharfe, CEO of the Luxembourg Stock Exchange.

BNY Mellon CSD is separately working towards the goal of becoming an investor CSD.


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