Author: Laura Ferreira

The Settlement Discipline regime is a key feature of the CSD Regulation (CSDR) which will introduce changes to CSDs throughout the European Economic Area and aim to promote their operational efficiency and thus contribute to a timely and efficient settlement in the European Union.

The CSDR – Settlement Discipline Workshop, which took place in Lisbon on 18/09/2019, is part of the preparatory work that INTERBOLSA has been developing with its Participants and the Market, with the aim of providing them with the essential tools for the entry into force of this new regime in September 2020.

The presentation made at the Workshop is available at the following link.

INTEBOLSA offers a new functionality in the Investment Funds System – order routing, allowing Fund Managers to directly confirm/reject the operations of subscription/redemption.

This new feature allows also Custodian/ Settlement Entities to be able to monitor the entire subscription and redemption process, including the financial settlement, whenever it occurs in their cash accounts (DCA).

To properly accommodate this amendment, INTERBOLSA revoked INTERBOLSA Circular 1/2017 and replaced it by INTERBOLSA Circular 1/2019, as well as amended the INTERBOLSA Timetables Notice.