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Domestic CSDs Working Group

Purpose

The Working Group’s purpose is to research the key challenges and issues that impact the Domestic CSDs i.e. those who mainly serve their local market and international flows into that market. The aim will be to provide ideas and best practice guidance which may be applicable to the local market.

Scope

Current in scope topics for 2025 include:

  • Remote Network Due Diligence
  • Managing Change from a CSD Perspective
  • Mutualised Market Technology Solutions

Key Deliverables

Remote Network Due Diligence

  • Industry Recommendations published (see here)
  • Engage with AFME, WFC and ACG on collaboration to simplify the processes in line with the recommendations. Carried forward to 2025

Managing Change from a CSD Perspective

  • Publish a paper recommending a framework to effect change with minimal operational disruption and avoding unintended consequence – best practice for rules, system and process

Mutualised Market Solutions

  • Publish a paper analysing the feasibility of leveraging mutualised technologies and proposing potential models for consideration

Key Outcomes

  • Assist the Securities Services industry in improving client outcomes, reducing risk and increasing efficiency of the local markets

Publications

  • Article ” Domestic – CSD- Due Diligence”, August 2023 > PDF
  • Article on “The Domestic CSD and Resilience”, March 2022 > PDF
  • Article on “The Domestic CSD and Remote Working”, March 2022 > PDF

Working Group Chair

  • Femi Onifade, Central Securities Clearing System PLC
  • Catherine Tinavapi, Standard Chartered Bank

Executive Sponsor

  • James Fok, CMU OmniClear

Institutions represented by Experts in the Working Group

  • ABN AMRO
  • Americas’ Central Securities Depositories Association ACSDA
  • B3 Brazilian Exchange and OTC
  • BNY
  • Central Securities Clearing System, Nigeria
  • Central Securities Depository, Ghana Limited
  • Central Securities Depository Joint-Stock Company Kazakhstan
  • CMU OmniClear
  • Datos Insights
  • Deposito Central de Valores, (DCV)
  • Depozitarul Central S.A.
  • Deutsche Bank AG
  • Deutsche Börse Group
  • Euronext N.V
  • Hong Kong Exchanges and Clearing Limited
  • Macao Central Securities Depository and Clearing Limited
  • Nasdaq Inc.
  • NSDL Group
  • Standard Chartered Bank
  • Strate (Pty) Ltd
  • The Standard Bank of South Africa
  • The Stock Exchange of Thailand
  • UBS Group AG