ECB releases annual statement with transactions value and volumes data and updates on other initiatives.
The associations said the industry would not be able to make the changes to adapt to the planned consolidation of T2 and T2S by November 2021.
The endorsement comes two months after the ESMA stated it would postpone enforcing CSDR's settlement discipline regime following an industry-wide lobby.
T2S earns praise for performance during market volatility in March where daily settlements almost doubled.
Regulatory and operational costs factors may require regional CSDs to band together and overcome these new pressures.
Euroclear has now been granted six licenses for its various CSDs in Belgium, Finland, France, the Netherlands and Sweden.
The new connection aims to facilitate cross-border settlement in TARGET2 Securities (T2S) markets, giving easier access to Baltic securities.
Clearstream went live with the InvestorCSD model last year with the aim of providing banks a single access point to both T2S and its ICSD services.
Euroclear Bank will be able to offer clients the choice between euro settlement in both commercial bank and central bank money.
Clearstream’s current strategy has been focused on the continued rollout of its InvestorCSD, and the expansion of its investment fund services business.