Draft Technical Standards for the Regulation on improving securities settlement in the European Union and on central securities depositories (CSD)

ESMA is calling for public feedback on possible content to draft technical standards on matters such as settlement discipline, CSD registration and requirements, including confirmation rules (acceptance or rejection of terms in good time before the intended settlement date) for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures.ESMA has a mandate to draft technical standards on more than 30 aspects under CSDR.ESMA will consider all comments received by 22 May 2014.A public hearing will take place on April 14th at ESMA in Paris, from 13h30 to 17h.As provided for by the ESMA Regulation, a full public consultation will be conducted on the draft technical standards before they are submitted to the European Commission (EC). Therefore, following this DP and on the basis of the relevant input received, ESMA will finalise its proposed draft technical standards, that will be included in a consultation paper. The date of publication of such a consultation paper and the commenting period will depend on the date of publication of the CSDR in the Official Journal and the final deadline for ESMA to deliver the draft RTS and ITS to the EC.