Author: Louise Reason

The EU’s Central Securities Depositories Regulation (CSDR) – introduced along with its more famous cousin MiFID II in 2014 – aimed to refine and improve the timeliness of trade settlements. But seven years on, it is estimated 10 to 15 percent of the trades within the regulation’s scope are still failing to settle on time – that’s millions per day. The European regulator’s aim is for at least 99 percent to settle on time. Enter, the 1 February 2022 (partial) introduction of the Settlement Discipline Regime (SDR), a set of rules for central security depositories (CSDs) which will impose daily…