Internalised settlement reporting under Article 9 of CSDR

According to Article 9(1) of Regulation (EU) No 909/2014 of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (CSDR), settlement internalisers shall report to the competent authorities of their place of establishment, on a quarterly basis, the aggregated volume (i.e. the number of transactions) and value of all securities transactions that they settle outside securities settlement systems.

Circular CSSF 19/709 introducing quarterly internalised settlement reporting requirements pursuant to Article 9(1) of the CSDR specifies the scope of entities concerned, the file naming convention and provides other details relating to the communication channels for quarterly internalised settlement reporting.

Internalised settlement reports will have to be sent to the CSSF on a quarterly basis via the transmission channels E-File or SOFiE within 10 working days from the end quarter of a calendar year.

For this purpose, the CSSF will be collecting data from:

• Settlement Internalisers established and operating in Luxembourg, reporting their internalised settlement activity, including the activity of its branches located in Luxembourg jurisdiction;
• Settlement Internalisers established in Luxembourg, reporting the internalised settlement activity of their branches operating in other Member State(s) within the EU;
• Settlement Internalisers established in Luxembourg, reporting the internalised settlement activity of their non-EU branches in an aggregated report with the settlement internaliser country code of operations set to “TS” (i.e. Third-Country States);
• the Luxembourg branches of Settlement Internalisers established outside the EU, reporting their internalised settlement activity carried out in Luxembourg (LEI code of their non-EU head office should be used for providing information on their identification).

CSSF technical documentation
The CSDR Art. 9 Handbook published by the CSSF describes the reporting principles (including file naming convention) to be used by the settlement internalisers in order to send the quarterly internalised settlement reporting to the CSSF. The Business Application Header (BAH) and the Business File Header mentioned in the Handbook, as well as two XML sample files can be downloaded by clicking on the zip file entitled “CSDR Art.9 XSD and sample files”.