Regulatory Alerts2018-05-24
Added · Updated
Guidelines on the Process for the Calculation of the Indicators to Determine the Substantial Importance of a CSD for a Host Member State
ESMA establishes a standardized process for competent authorities to collect, aggregate, and calculate data determining whether a Central Securities Depository (CSD) is of substantial importance to a host Member State. Competent authorities must ensure CSDs report specific settlement and market value data by 31 January, transmit reviewed data to ESMA by 25 February, and submit calculated indicator results to ESMA by 15 April. An initial transitional process applied to 2016 data required reporting within four weeks of publication, with final results shared by ten weeks. The guidelines specify that all values must be expressed in EUR and define precise inclusions and exclusions for settlement instructions to ensure consistent EU-level aggregation.
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