Due to the historically close links between the Irish and UK financial systems, there is a sharing of certain financial markets infrastructures including securities settlement systems.
Central Securities Depositories (CSDs) are specialist institutions which operate a securities settlement system. CSDs will be authorised under the framework set out in the EU Regulation on Central Securities Depositories (CSDR). CSDR also sets out a third country regime based on equivalence assessments by the European Commission.
Irish market participants currently use different CSDs in the European Union to settle different financial instruments including Irish listed equities and Exchange Traded instruments, Irish government debt and corporate debt securities. Notwithstanding the significant size of our financial sector, Ireland is the only Member State in the European Union that does not have a CSD.
As the future relationship between the United Kingdom and the European Union remains uncertain, there i
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