17 July 2017
Frankfurt
Reporter: Drew Nicol

Clearstream sets sights on CSDR licence


Deutsche Börse subsidiary Clearstream is set to apply for new licenses to operate under the central securities depositories regulation (CSDR).

CSDR obligations require Europe’s CSDs to submit application files to local regulators by 30 September 2017.

Clearstream expects authorisations to be granted from mid-May 2018 onwards.

“This will be a first step to even further bolster safety and stability across Europe’s capital markets in a post-financial-crisis world,” Clearstream explained.

“As the new regulatory keystone for the sector, CSDR aims to harmonise the different Rules, which apply to European CSDs in order to create an improved and level playing field for the industry, and enhance legal and operational conditions for EU-wide cross border settlement via Target2-Securities (T2S).”

Clearstream global securities financing volume fell by 13 percent in June.

Monthly volumes hit €452.7 billion last month, down from €520.8 billion at the same time last year.

Year to date average volume was also down 11 percent compared to 2016, falling to €470.5 billion from €527.4 billion.

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