Euroclear proposes Irish CSD post-Brexit
February 21, 2018

Euroclear has published a paper in which it proposes a structure for a new central securities depository (CSD) for Ireland. It says the plan is to be operational in March 2019, to coincide with the withdrawal of the UK from the European Union.

Euroclear says that the proposed establishment of this new CSD – known for the moment as Euroclear Ireland (EIR) - has been approved in principle by the Boards of Euroclear SA/NV (ESA) and Euroclear UK & Ireland (EUI). It is subject, though, to a number of internal and external dependencies, including regulatory approvals and permissions (in Ireland, the United Kingdom (UK), Belgium and in the United States).

Euroclear says in its opening remarks in the paper that it is its intention that the new CSD will be based in Ireland and will be the Issuer CSD for Irish corporate securities. It expects EIR to be subject to authorisation and ongoing supervision by the Central Bank of Ireland (CBoI) in accordance with the EU CSD Regulation (CSDR).





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Euroclear has published a paper in which it proposes a structure for a new central securities depository (CSD) for Ireland. It says the plan is to be operational in March 2019, to coincide with the withdrawal of the UK from the European Union.

Euroclear says that the proposed establishment of this new CSD – known for the moment as Euroclear Ireland (EIR) - has been approved in principle by the Boards of Euroclear SA/NV (ESA) and Euroclear UK & Ireland (EUI). It is subject, though, to a number of internal and external dependencies, including regulatory approvals and permissions (in Ireland, the United Kingdom (UK), Belgium and in the United States).

Euroclear says in its opening remarks in the paper that it is its intention that the new CSD will be based in Ireland and will be the Issuer CSD for Irish corporate securities. It expects EIR to be subject to authorisation and ongoing supervision by the Central Bank of Ireland (CBoI) in accordance with the EU CSD Regulation (CSDR).



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