Deutsche Börse’s Market Data + Services business has launched a new data offering to support the validation of financial instruments subject to the new settlement discipline rules coming along with the European Central Securities Depositories Regulation (CSDR).
The data packages will help to manage risks and prioritise settlement fails, reconcile cash penalties and prepare for buy-ins – a controversial aspect of the regulation which remains set for implementation in February next year, despite calls for a delay.
The new data offering is designed for all market participants that are active in trading and settlement of securities which settle within a European CSD.
Following the launch of the first package, CSDR Reference Data, with information to manage cash penalties and buy-ins, Deutsche Börse said it is planning to roll out further data packages containing additional instrument data needed to manage buy-ins, as well as analytical data about executed auctions of Deutsche Börse’s buy-in agent Eurex STS.
“Accurate reference data is key when it comes to managing regulatory obligations and the associated risks,” said Alireza Dorfard, head of Market Data + Services.
“With our new data offering, we are taking another important step in our efforts to support both the financial industry and the European regulatory agenda.”
At present, all aspects of the Settlement Discipline Regime will come into force on 1 February 2022; however, it is likely that the European Securities and Markets Authority (ESMA) will issue a no-action letter for the mandatory buy-in regime to allow more time for compliance, sources have told Global Custodian.
Deutsche Börse launches CSDR reference data set
Solution allows clients to identify in-scope instruments and their relevant reference data as they prepare for incoming settlement regulations.
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