Regulatory Alerts2021-12-08
Added · Updated
Guidelines on Settlement Fails Reporting
ESMA establishes guidelines for competent authorities and Central Securities Depositories (CSDs) to ensure consistent reporting of settlement fails under Article 7 of CSDR and Articles 14 and 39 of the RTS on settlement discipline. CSDs must submit separate reports for each securities settlement system, excluding shares with principal trading venues in third countries, and calculate fail rates by including recurring fails and partially settled instructions. The guidelines specify that all values must be reported in EUR, define the methodology for valuing settlement instructions, and require the listing of the top 10 participants and top 20 ISINs with the highest fail rates. Competent authorities are required to notify ESMA of their compliance status within two months of the guidelines' publication.
More like this from ESMA
We email you every new ESMA publication the day it's published.