CESR has published its draft advice on differences in regulatory arrangements for post-trading infrastructures. The paper explains the positions in various member jurisdictions on:
- requirements on CCPs from other jurisdictions that want:
- access to RMs or MTFs to provide CCP services;
- additionally to establish a customised link with a local CCP; and
- to become a participant in a local CCP; and
- requirements on CSDs from other jurisdictions that want:
- to act as CSD for locally executed transactions;
- to set up a customised link with a local CSD; and
- to become a participant in a local CSD.
CESR has identified some areas where members take differing views and some communication issues that need sorting out.