Germany’s BaFin issues CSDR licence to Clearstream Banking

Maria Nikolova

The licence authorises the company to provide core services and non-banking-type ancillary services under the CSDR.

Deutsche Börse Group’s post-trade services provider Clearstream has secured a CSDR licence for Clearstream Banking AG, its German central securities depository. The licence was granted by the German Federal Financial Services Authority BaFin pursuant to Art. 16 CSDR (core and non-banking type ancillary services). The authorisation came into effect on January 21, 2020.

The licence authorises the company to provide core services and non-banking-type ancillary services under the Central Securities Depositories Regulation (CSDR).

The key goals of the CSDR are to boost the safety and efficiency of securities settlement and settlement infrastructures in the European Union and to establish an enhanced level playing field among central securities depositories (CSDs). For CSDs, it aims to create a harmonised set of rules for authorisation, operation and governance, as well as for the provision of services. In this context, CSDR requires all CSDs to apply for re-authorisation to receive a CSDR licence.

Mathias Papenfuss, Head of Regulatory Implementation at Clearstream, commented:

“We are delighted that Clearstream Banking AG has been authorised as CSD under CSDR. Receiving this licence is an important achievement; it is proof of our continuous efforts to ensure that we are in the best position to support the safety and stability of financial markets and offer services aligned with European standards to all market participants.”

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