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 is to provide best practice guidance and advice which may be applicable to the local market. Each market has unique regulations and all the advice must be tailored into practical steps for the market.  Through the adoption of the best practices and the resulting improvements the WG can assist the Securities Services industry in improving the client outcomes, reducing the risk and increasing the efficiency of the markets.

Scope

Current in scope topics under consideration include:

  • Remote Network Due Diligence (including signatures on physical documentation)
  • Best practices for markets about how (if they want to) they can open up to foreign investors, what do they need to have in place.

Key Deliverables

Remote Network Due Diligence

  • Create a straw-man of actions that need to be performed for Due Diligence
  • Based on the list of actions design methodologies that can optimise remote due diligence.

Opening markets to Foreign Investors

  • Outline the key challenges that currently exist in foreign entity access
  • Create a paper highlighting the key challenges and providing recommendations for a way forward

Key Outcomes

Key outcomes will be two papers on the above topics which can be syndicated across the industry.

Reports

  • Article on “The Domestic CSD and Resilience”, March 2022 > PDF
  • Article on “The Domestic CSD and Remote Working”, March 2022 > PDF

Working Group Chair

Dale Connock, Strate (Pty) Ltd

Executive Sponsor

Colin Parry, ISSA

Institutions represented by Experts in the Working Group

  • ACSDA
  • Aite Novarica
  • BNY Mellon
  • Central Securities Clearing System, Nigeria
  • Central Securities Depository, Ghana
  • Deposito Central de Valores, (DCV) Chile
  • Depozitarul Central, Romania
  • Nasdaq CSD SE, Iceland
  • National Settlement Depository, (NSD) Russia
  • National Securities Depository Limited, (NSDL) India
  • Strate, South Africa
  • SWIFT
  • The Thailand Securities Depository (TSD)
  • U.S. Bank
  • VP Securities, Denmark