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.
Samuel Riley, executive board member and head of investor services and financing at Clearstream, speaks to GC on how the ICSD is helping the post-trade industry to fill in the gaps with data.
CSDR eligibility and penalty data looks to solve one of the major CSDR challenges - the sourcing of eligibility data.
The landmark figure is part of an industry effort to significantly improve securities settlement efficiency rates ahead of the Settle Discipline Regime (SDR).
Market participants will be conscious of European settlement rates with incoming regulation on the horizon which penalises fails.
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.
For asset managers that seek to use a third-party vendor to manage their CSDR compliance, time is running out to finalise those relationships.
The majority of industry bodies and market participants will most likely focus their feedback on the settlement penalties and the buy-in components of CSDR.