ECSDA general presentation

ECSDA:Representing the CSD industry across Europe

May 2015

Who are ECSDA’s members?1

Overview of recent activities

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

5

2

Agenda

Who are ECSDA’s members?1

3

Agenda

Overview of recent activities

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

5

36 full members

41 (I)CSDs: international & domestic securities depositories

5 associate members

including 30 (I)CSDs established in EU countries

Located in 37 European countries

4

Who are ECSDA’s members?

All active in issuance, settlement and custody

Issuance

New securities

are created

Trading

Investors buy or

sell securities

Custody

Safekeeping

Asset servicing

Settlement

Securities delivery,

final transfer of

ownership

Clearing

Calculating

obligations

32 CSDs in the EEA

5

Country coverage

41 (I)CSDs across Europe

30 CSDs in the EU

21 CSDs in the Euro Area

2 ICSDs

4 CSDs in EU candidate countries

5 other European CSDs

6

Agenda

Who are ECSDA’s members?1

Overview of recent activities

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

5

7

Objectives of the association

ECSDA is a non-profit association whose main objective is to support cooperation between European CSDs.

This cooperation takes various forms including:

1. Developing expertise on the CSD business: studying technical, economic and regulatory issues affecting CSDs and discussing possible solutions;

2. Facilitating the exchange of best practices between CSDs;

3. Promoting the unique role of CSDs in financial markets, both from an efficiency and financial stability perspective;

4. Formulating and representing the common interests of European CSDs, especially thanks to a coordinated approach towards regulators.

8

Agenda

Who are ECSDA’s members?1

Overview of recent activities

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

5

9

Governance overview

General Meeting (GM)41 members

Board of Directors (BoD)

WG1Risk management

and audit

WG3Settlement

WG5Harmonisation

WG2Public Policy

WG4Information technology

WG6Communications

Executive Committee (ExCo)

General Secretariat

Decision making bodies Technical expertise (Active – Inactive for the moment) Day-to-day execution

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Executive Committee

Chair Mathias Papenfuß Clearstream

Vice-Chair Brigitte Daurelle Euroclear

Vice-Chair György Dudás KELER

Treasurer Georg Zinner OeKB

Member Ignacio Álvarez Iberclear

Member Eddie Astanin NSD

Member Luís Laginha de Sousa Interbolsa

Member Nicos Porfiris ATHEXCSD

Member Boris T. Šnuderl KDD

Member Iwona Sroka KDPW

Member Vesna Živković SKDD

11

ECSDA Working Groups

WG3 - Settlement

EU legislation impacting CSDs

Oversight standards (CPSS-IOSCO etc.)

Taxation

WG2 - Public Policy

Framework and operation of CSD links

Matching standards

Settlement discipline

WG4 - Information Technology

on hold

WG5 - Harmonisation

Corporate actions market standards

Communication standards

Reference data, LEI

WG6 - Communication

Giovannini Barrier 1 analysis

on hold

WG1 - Risk Management & Audit

ECSDA Disclosure framework

discontinued

Maintenance of ECSDA Data Exchange Manual

12

Agenda

Who are ECSDA’s members?1

Overview of recent activities

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

5

13

ECSDA Secretariat

3 staff members

Permanent office in Brussels established in 2010

The Secretariat:

monitors European developments with an impact on CSDs

represents CSDs’ interests towards relevant stakeholders

collects & publishes CSD industry data

provides organisational support

14

Agenda

Overview of recent activities5

Who are ECSDA’s members?1

Objectives of the association

Governing bodies

ECSDA Secretariat

2

4

3

15

Overview of recent activities

Annual Factbook and online CSD database (since 2011)

FAQs

Central access point to individual CSD disclosures

Study on CSD issuer services (10/2013)

Reports on settlement discipline (09/2012, 07/2011, 09/2009)

Developing a CSD knowledge base:

Harmonised statistics on settlement fails (09/2012)

Regular surveys on the implementation of the ESSF-ECSDA matching standards (11/2013)

Participation in joint industry initiatives on collateral, corporate actions and settlement cycles

Supporting harmonisation:

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Overview of recent activities

The EU CSD Regulation

Legislation on investment funds, MiFID, securities law, recovery and resolution, shareholder rights

CPSS-IOSCO principles for financial market infrastructures

Contributing to the debate on policy developments in post trade:

Promoting international cooperation:

Participation in global industry initiatives to facilitate financial integration

ECSDA is a member of the World Forum of CSDs

ECSDA aisbl

Rond-Point Schuman 6, bte 9

1040 Brussels

BELGIUM

Ph. +32 2 230 99 01

[email protected]

www.ecsda.eu

Contact