Deutsche Boerse CSDR Buy-In Agent Gains German Banking License
- Eurex STS set to offer an automated and standardized way to meet the CSDR’s settlement discipline regime
Deutsche Boerse’s Buy-in Agent, Eurex Securities Transaction Services (Eurex STS), has obtained a banking license from the German Federal Financial Supervision Authority (BaFin), Deutsche Boerse announced today.
Gaining the license is a key milestone required to offer Buy-in Agent services once the settlement discipline aspect of the CSDR Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term comes into effect.
This new regulation obliges the buyer in a securities transaction to initiate a buy-in process against the seller if the settlement of a transaction fails after a certain period.
It calls for a neutral third party to act as the Buy-in Agent. Eurex STS’ Buy-in Agent service will be able to act as this third party and thus enable market participants to comply with the new regulation.
The goal of this regulation is to increase efficiency in the area of securities settlement by, for example, reducing the number of settlement fails that occur.
“We are delighted to have received the banking licence from BaFin, and we will continue to work towards launching our new service for the buy-in regime in February 2021,” said Marcus Addison, Managing Director at Eurex STS.
“Our solution leverages our considerable experience in offering trusted securities trading infrastructure to the market – it will provide an automated and standardised solution to assist market participants with regulatory compliance,” he added.
Key milestone
“Securing the banking licence from BaFin is a significant event for us in the launch of this new service. We have been in contact with many potential clients who are interested in using our service and have been working with them to prepare and optimize their back-office functions in order to make the transition to the new settlement discipline regime as smooth as possible,” said Marcel Naas, Managing Director at Eurex STS
The new service will handle buy-in requests and, when instructed to do so by registered clients, source the relevant securities in automated auctions and deliver them to the client on the same day.
In addition to Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of the buy-in, Eurex STS’ service will handle a range of other functions, including notification management with the seller and CSD, the calculation and settlement of price differences and compensations, as well as the fee compensation with the seller.
Deutsche Boerse’s Buy-in Agent, Eurex Securities Transaction Services (Eurex STS), has obtained a banking license from the German Federal Financial Supervision Authority (BaFin), Deutsche Boerse announced today.
Gaining the license is a key milestone required to offer Buy-in Agent services once the settlement discipline aspect of the CSDR Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term comes into effect.
This new regulation obliges the buyer in a securities transaction to initiate a buy-in process against the seller if the settlement of a transaction fails after a certain period.
It calls for a neutral third party to act as the Buy-in Agent. Eurex STS’ Buy-in Agent service will be able to act as this third party and thus enable market participants to comply with the new regulation.
The goal of this regulation is to increase efficiency in the area of securities settlement by, for example, reducing the number of settlement fails that occur.
“We are delighted to have received the banking licence from BaFin, and we will continue to work towards launching our new service for the buy-in regime in February 2021,” said Marcus Addison, Managing Director at Eurex STS.
“Our solution leverages our considerable experience in offering trusted securities trading infrastructure to the market – it will provide an automated and standardised solution to assist market participants with regulatory compliance,” he added.
Key milestone
“Securing the banking licence from BaFin is a significant event for us in the launch of this new service. We have been in contact with many potential clients who are interested in using our service and have been working with them to prepare and optimize their back-office functions in order to make the transition to the new settlement discipline regime as smooth as possible,” said Marcel Naas, Managing Director at Eurex STS
The new service will handle buy-in requests and, when instructed to do so by registered clients, source the relevant securities in automated auctions and deliver them to the client on the same day.
In addition to Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of the buy-in, Eurex STS’ service will handle a range of other functions, including notification management with the seller and CSD, the calculation and settlement of price differences and compensations, as well as the fee compensation with the seller.