Search
Close
Close

Contact us

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

The 2026 agenda for the WG includes:

  • CSD DDQ review and refinement
  • Cross-Border Securities Transactions: What are the key challenges CSDs face in cross-border securities transactions?

Key Deliverables

CSD DDQ Review and Refinement

  • Industry Recommendations published -> PDF
  • Ongoing engagement with AFME, WFC and ACG on potential collaboration to drive the changes identified in the ISSA 2023 paper

Cross-Border Securities Transactions

  • Conduct a market survey to collect information on the challenges faced by CSDs, validate any assumptions and capture real-world challenges
  • Publish a paper that identifies operational, legal, and regulatory friction points in cross-border securities transactions and settlement and aims to share lessons and outcomes from different geographies

Key Outcomes

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

Publications

  • Managing Change Paper from a Central Securities Depository Perspective, October 2025->PDF
  • Look at what ISSA’s Domestic CSD Working Group has been busy working on -> video
  • Best practices for Frontier and Emerging markets attracting foreign portfolio investment December 2024 -> PDF
  • Watch James Fok, CMU OmniClear – and Executive Sponsor of ISSA’s Domestic CSD Working Group – outline the efforts of this group to research the key challenges and issues that impact Domestic CSDs -> PDF
  • 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

  • Esther Chen, Standard Chartered Bank
  • Adeyinka Shonekan, Central Securities Clearing System PLC
  • Catherine Tinavapi, Standard Chartered Bank

Executive Sponsor

  • Shehu Yahaya Shantali, Central Securities Clearing System PLC

Institutions represented by Experts in the Working Group

  • Americas’ Central Securities Depositories Association ACSDA
  • Australian Securities Exchange ASX
  • B3 Brazilian Exchange and OTC
  • BNY
  • Central Securities Clearing System Plc
  • Central Securities Depository Ghana Limited
  • Central Securities Depository Joint-Stock Company Kazakhstan
  • CMA Small Systems AB
  • CMU OmniClear Limited
  • Datos Insights
  • Deposito Central de Valores (DCV)
  • Depozitarul Central S.A.
  • Deutsche Bank AG
  • Egyptian Central Securities Depository
  • Euroclear
  • FMDQ Group PLC
  • Hong Kong Exchanges and Clearing Limited
  • Macao Central Securities Depository and Clearing Limited
  • Montran
  • MYRIAD Group Technologies Ltd
  • Nasdaq Inc.
  • NSDL Group
  • Standard Chartered Bank
  • The Standard Bank of South Africa
  • Thomas Murray
  • UBS Group AG