CSDR

Information on the CSD regulation and client impact

 


KELER's re-authorization process has begun on 29 September 2017, when we submitted our application to the local regulator, the Central Bank of Hungary. The formal review of the application is followed by a 6 month long period of assessement, therefore the acquisition of KELER's authorization is expected in the spring of 2018.

CSDR (or The Central Securities Depositories Regulation) is one of the key regulations adopted in the aftermath of the financial crisis. The European Union regulation was designed to increase the safety, efficiency and transparency of the financial markets and to help create a uniformly regulated European securities market. KELER must re-authorize its operations and, in many other respects, CSDR makes a significant difference to KELER.

The regulation specifies in detail how a central depository is licensed, what rules it operates under, and, to consider CSDs with bank licenses, sets out specific rules for those activities as well. KELER considers CSDR as an important milestone in the operation of the European capital market.

CSDR, however, affects not only CSDs, but directly or indirectly all securities market players through some of its provisions, and therefore we consider it important to inform those concerned. Below we have collected all the KELER briefings published on this topic to ensure that relevant information is available to all market participants in one place. KELER will continue to provide continuous information to its Customers regarding CSDR compliance.

 

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