Clearing and settlement of financial instruments; post-trading transparency

modification date 02 June 2017

Proposal for a Regulation of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories (CSDs) and amending Directive 98/26/EC

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Binding acts 

 Directive 2009/44/EC of the European Parliament and of the Council of 6 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims

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Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems

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Related documents

Decision of the European Central Bank of 6 October 2009 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB

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Decision of the European Central Bank of 19 March 2009 on the establishment of the TARGET2-Securities Programme Board

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Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7)

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European code of conduct for clearing and settlement 7 November 2006

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Draft working document on post-trading (2006)

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Analyses and reports

Communication from the Commission to the European Parliament, the Council,  the European Economic and Social Committee, the Committee of the Regions and the European Central Bank Ensuring efficient, safe and sound derivatives markets: Future policy actions

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CESR-ESCB recommendations for securities settlement systems and recommendations for central counterparties in the European Union

EC Progress Report to Economic and Financial Affairs Council (ECOFIN), November 2008

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Council Conclusions on clearing and settlement (2007)

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