Position paper
Settlement discipline
ECSDA issues its updated CSDR Penalties Framework
Today, 28 April 2023 ECSDA issued the update of the ECSDA CSDR Settlement fails Penalties Framework.
The change takes into account the postponement of the collection of payment by CSD participants giving them an additional day to collect the payment from the underlying customers:
- PFoDs Trade Date (TD) – from 15th to 16th Day
- Payment Date – from 17th to 18th Day
Tags
- settlement
- settlement discipline