T2-T2S consolidation project delayed until November 2022 after industry pressure
ECB decided to push back project to replace TARGET2 with a new real-time gross settlement, while also delaying the new Eurosystem Collateral Management system.
Regulation
ESMA confirms proposal to further postpone SDR to 2022
The proposal came in response to a request from the European Commission to further postpone the Settlement Discipline Regime.
Regulation
There’s Always a FinReg Angle – Brexit and regulatory cooperation
Sean Tuffy, Virginie O’Shea and the GC team are back to discuss the latest FinReg news and discuss the lingering issues and FinReg worries around Brexit, along with the effectiveness and challenges of regulatory cooperation.
Settlement Discipline Regime could be delayed to February 2022 in regulatory U-turn
Global Custodian understands advanced discussions are underway among EU regulators to propose a delay, though confirmation of this could still be months away.
SFTR goes live for sell-side, as the clock starts ticking for majority of the buy-side
A quick preview of what the industry can expect from the first phase of the Securities Financing Transactions Regulation on 13 July.
UK rejection of SDR only impacts the few, but regulation as a whole continues to frustrate the many
Lobbyists likely to use UK decision to not implement the settlement discipline regime as further leverage in calls for a delay.
Regulation
There’s Always a FinReg Angle: Enforcement – go where the whistle blows
Join Global Custodian and the FinReg experts for the fifth episode of There Is Always A finReg Angle podcast and get the latest news from financial regulation space.
DTCC’s SFTR service records jump in users ahead of reporting go-live
The rise comes less than a month before sell-side firms will be required to report their trades under SFTR.
UK confirms it will not implement CSDR buy-in regime
The Treasury said it will not implement the SDR from February 2021, but will consider the future approach of the rules to the UK’s own post-trade framework.
SmartStream launches API for SFTR reference data service as deadline looms
Service will enable firms to reduce implementation time for deploying key components for sourcing accurate reference data, says SmartStream.