Regulatory Alerts2021-06-29
Interoperability/Financial Market Infrastructures Link Framework Among Central Securities Depositories
This framework mandates that Central Securities Depositories (CSDs) establish peer-to-peer interoperable links to facilitate efficient fixed income trading and settlement across multiple platforms. CSDs are required to implement necessary infrastructure, risk management systems, and reconciliation procedures while ensuring investors can maintain accounts and settle trades across exchanges regardless of security domiciliation. All interoperable agreements must cover key operational, legal, and risk areas, with any new associated charges remaining subject to Securities and Exchange Commission approval.
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