AFME, ISDA and ISLA among trade bodies to deliver the concise message of delay the settlement discipline regime.
With just seven months to go until the go-live of SDR, market participants have grown increasingly worried that they will be unable to make the necessary changes to their operations to meet the rules.
The trade bodies said many firms will be unable to make the necessary changes to their operations to meet the rules under the current timeline.
As the consultation period for Europe’s Settlement Discipline Regime concludes, industry associations again step up calls for the removal of mandatory buy-ins.
The new version of the AFME DDQ also includes questions over how firms responded to the COVID-19 pandemic.
Network managers may be forced to adopt virtual technologies to complete their due diligence processes of sub-custodians, however not all are in agreement of its merits.
European capital markets have continued to operate well following the outbreak of COVID-19 according to new research from AFME.
The consensus among both buy- and sell-side firms is that the mandatory buy-in regime will have significant negative implications on Europe’s capital markets.
Technology firm says Association for Financial Markets in Europe due diligence questionnaire is at risk of becoming ‘simply just another questionnaire’.
Few alterations expected to be incorporated into the 2020 DDQ version in what is likely to be a welcome respite for many sub-custodian providers.