BNP Paribas Securities Services, already servicing settlement and custody arrangements for four Italian banks ahead of the go-live of T2S (Target2-Securities) in the country, has added the Banca Popolare di Milano Group to its mandate. Banca Popolare includes three banks: Banca Popolare di Milano, Banca Popolare di Mantova and Banca Akros.

ESMA (the European Securities and Markets Authority) has today released a second consultation paper on CSDR (Central Security Depository Regulation) with a focus on the mandatory buy-in regime that it affects in the event of a fail.

The second consultation paper comes after the first consultation paper revealed serious misgivings from the market about the buy-in operation. The general consensus was that CSDs themselves should not be involved in the buy-in phase and that rather, buy-ins should be executed at the trade level.

SIX Securities Services, Bank of Greece Securities Settlement System, Romania’s Depozitarul Central and the Malta Stock Exchange all went live on the ECB’s T2S (Target2-Securities) system on 22 June 2015. They are the first to engage with the system that was first conceived in 2006 and launched in 2008. Better late than never?

ICE Trade Vault Europe, one of six approved European trade repositories authorised by ESMA (the European Securities and Markets Authority) to offer reporting functionality under EMIR (the European Market Infrastructure Regulation), has extended its trade repository registration to include the receipt of FX derivatives reports. The extension has been approved by ESMA.

ESMA (the European Securities and Markets Authority) has published an Opinion[1] calling for an amendment to the UCITS Directive to take into account the cl