The Joint Associations welcome the Report from the Commission on the CSDR Review published in July 2021 and fully support the Commission’s intention to consider amendments to the mandatory buy-in regime, subject to an impact assessment.
In light of this, the Joint Associations request ESMA and the Commission to take action to ensure that the mandatory buy-in rules for non-CCP transactions are not subject to application on 1 February 2022, when the relevant RTS is currently set to enter into force, and to provide clarity to market participants on the matter on an urgent basis.
The Joint Associations remain committed to further improving settlement efficiency in Europe’s capital markets.
Download the position: link.
Source – EFAMA: https://www.efama.org/newsroom/news/joint-association-letter-csdr-settlement-discipline-implementation-timeline