The Central Securities Depository Regulation (CSDR) is an European Parliament regulation entered into force on September 17th, 2014 to regulate Central Security Depositaries activities of EU member countries.
CSDR plays a pivotal role for post-trade harmonization efforts in Europe, as it establishes authorization requirements and common rules for the exercise of the central depository activity, with particular reference to the securities settlement service.
The CSDR considers CSDs as critical market infrastructures with guiding principles of regulatory provisions aimed to:
Increase the safety, reliability and efficiency of CSDs
Ensure that CSDs are subject to a common regulatory framework in the European Union
Harmonize the legal aspects related to the settlement of securities
Create a level playing field among CSDs that stimulates competition and interconnection between systems