What CSDR means for Euronext Securities Milan

Euronext Securities Milan, has received authorisation from the Consob Supervisory Authorities and the Bank of Italy, to operate as a Central Depository in accordance with the CSDR Regulation (EU) n. 909/2014.

Organisational requirements:

In continuity with the current organizational structure, Euronext Securities Milan has strengthened the existing governance in order to ensure efficient risk identification and management, as well as the detection of potential conflicts of interest with its clients.

Prudential requirements:

Euronext Securities Milan has implemented procedures and controls to monitor the new capital requirements mandated by European legislation.

Conduct of Business Rules:

In line with European regulation, Euronext Securities Milan has adopted a pricing policy to guarantee the transparency of fees for Settlement and Centralized Administration Services. In addition, the creation of a User Committee with advisory powers has been established. The User Committee may intervene on topics relevant to the stakeholders involved in the services.

Operational requirements:

Euronext Securities Milan operational activities have not undergone any significant change due to the applicable legislation. The main innovations will be with the implementation of new buy-in procedures and penalties that are still under finalization by the European regulation.