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Since the comments by the Wise Men in their Lamfalussy Report of 2001, indicating that a further restructuring of clearing and settlement would be necessary, discussions about the shaping of post-trade structures in Europe have been intense and have taken place in several strands.


ICMA, often in cooperation with other associations has taken an active part in these discussions and coordinated and/or supported several industry initiatives in the area.


The current main strands of work on clearing & settlement issues on the European level are:


TARGET2-Securities and CCBM2

CESAME

Code of Conduct
New Global Note (bearer notes)
New Safekeeping Structure (registered notes)

ISMAG

   

 

 


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