Provision of Central Securities Depository Services in Another EU Member State in CSDR
10 Pages Posted: 14 Dec 2018
Date Written: December 06, 2018
Central securities depositories represents important element of the financial market system of institutions. CSDs performs two very functions – they act as central notary parties as well as the settlement systems for transactions with financial instruments. This contribution analyses the aspects related to the CSD cross-border operations under the regime of CSDR. Initially, brief introduction to CSD role and to the EU regulation on CSD is provided. Furthermore, the aspects of CSD standardization within the EU and the conditions for cross-border operations are reviewed in a detail. In the next part of the contribution, aspects of issuers’ freedom of issuance and issuers migration are subject to an analysis. Finally, selected interrelations of CSD cross-border operations and the Brexit are described.
Keywords: Central securities depository, CSD authorization, CSDR, financial instrument, settlement system, CSD standardization, transferable securities
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