ECSDA consults on the draft Single CSD Settlement Fail Penalties Framework

ECSDA has published the draft version of its future Single CSD Settlement Fail Penalties Framework. The document aims at creating a harmonised and coherent set of rules and considerations for creation and operation of the Settlement Discipline Cash Penalties mechanisms by all European CSDs subject to the CSD Regulation (Regulation (EU) 909/2014) or equivalent provisions. It intends to provide a clear, safe and efficient Framework for settlement penalties mechanisms of the CSDs that have joined and that have not yet joined T2S platform.
The draft version of the Framework is based on numerous assumptions which need to be confirmed by the authorities and other relevant stakeholders. It is intended to evolve pursuant to clarification of assumptions, dialogue with relevant stakeholders and further ECSDA work.
Preliminary or partial views will be appreciated as soon as possible. The open consultation on the early draft framework is running until 17 August at the latest.
Views, comments and proposals should be sent to to [email protected].