Published on 10 March 2022
Communiqué

Publication of the User Guide allowing CSDs to submit the settlement fails reporting as per Article 7 of the Central Securities Depository Regulation

In January 2022 the CSSF published Circular CSSF 22/792 informing the market that, in its capacity as competent authority, the CSSF applies the Guidelines on Settlement Fails Reporting published on 8 December 2021 (ESMA70-156-4717) under Article 7 of Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (CSDR).

In accordance with Article 7 of CSDR and the guidelines mentioned in the circular, the CSSF has implemented the relevant technical solution allowing CSDs to comply with this obligation. The details describing how CSDs can submit the reporting are described in the CSSF User Guide available below.

Next Step

CSDs are requested to implement the connectivity requirements mentioned in this User Guide in order to submit the reporting and to ensure that their procedures are updated to ensure timely reporting of the requested information.