LuxCSD Gains CSDR licence

LuxCSD, the Luxembourg central securities depository (CSD), has obtained its CSDR licence, it announced this week.

According to LuxCSD, the licence was granted pursuant to Art. 16 CSDR (core services) by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF). The authorisation is effective as of 15 April 2020.

LuxCSD says that the key objectives of the Central Securities Depositories Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (CSDR) are to increase the safety and efficiency of securities Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term and settlement infrastructures in the European Union and to establish an enhanced level playing field among CSDs.

For CSDs, it seeks to create a harmonised set of rules for authorisation, operation and governance, as well as for the provision of services. In this context, CSDR requires all CSDs to apply for re-authorisation to receive a CSDR licence, according to LuxCSD.

“We are delighted that, coinciding with our tenth anniversary, we have reached a new milestone: LuxCSD has been authorised as CSD under CSDR. Having received the licence, we will be able to support our customers in Luxembourg and beyond with a safe, stable and fully compliant environment for their business aligned with European standards,” Patrick Georg, CEO of LuxCSD, commented.

LuxCSD

LuxCSD is jointly owned by the Central Bank of Luxembourg (Banque centrale du Luxembourg) and Clearstream, Deutsche Börse Group’s post-trading services provider.

As central securities depository (CSD), it serves as a national access point to TARGET2-Securities (T2S), allowing seamless interoperability across T2S markets.

LuxCSD provides custodians and distributors across Europe with issuance, central bank money (CeBM) settlement and asset servicing for debt, money market and equity instruments, as well as investment funds.

LuxCSD also provides Legal Entity Identifier (LEI) services in 37 jurisdictions around the world as a Local Operating Unit (LOU) accredited by the Global Legal Entity Identifier Foundation (GLEIF).