CSDR: ESMA publishes final reports on guidelines on CSDs' access to CCPs and rules for participant default

ESMA has published final reports on two sets of guidelines under the Central Securities Depositories Regulation (CSDR) relating to access by a central securities depository (CSD) to a CCP's transaction feeds and rules for CSD participant default.

ESMA's guidelines on CSDs' access to CCPs' or trading venues' transaction feeds set out the conditions under which access could be refused, especially as this type of access is not covered under the Markets in Financial Instruments Regulation (MiFIR).

Under the CSDR, CSDs are left to define rules and procedures in order to address the insolvency of one or several of their participants. ESMA's guidelines on CSD participant default specify how such rules and procedures should be defined.

The two sets of guidelines will be translated into the official EU languages and the final texts published on the ESMA website. The deadline for compliance notifications from national competent authorities will be two months after the publication of the translations.