Target2 Securities (T2S)
Work on the project to establish a single platform for
the settlement of securities, backed by the Eurosystem,
continued in 2013. European Central Depositories have
been signing up to the framework agreement, which
entails a commitment to carry out the adaptations neces-
sary to adapt and incorporate their settlement activities
into Target2 Securities.
The CSD Steering Group (CSG), chaired by Iberclear CEO
Jesús Benito, has been responsible for particularly impor-
tant work on the new governance structure for Target2
Securities.
REGIS-TR authorised by ESMA to begin operations
REGIS-TR is a Trade Repository for derivatives developed
by Iberclear and Clearstream. After the launch of opera-
tions, in themiddle of December of 2010, REGIS-TR started
achieving a higher profile among industry participants
and regulators by 2011, and is now one of the leading
Trade Repositories on the European and global levels.
REGIST-TR comes into operation
REGIS-TR was granted authorisation to operate as a“Trade
Repository”for derivatives on 7 November 2013.
REGIS-TR provides its clients with a simple and efficient
solution for reporting their derivative transactions in the
European Union, pursuant to the EMIR regulation. It also
enables clients to comply with the MiFID Directive and
the REMIT regulations for the energy sector. The reporting
obligation commenced on 12 February 2014.
All derivative transactions and lists of all asset classes
can be reported to comply with reporting obligations.
REGIS-TR collects and administers details of transactions
reported by its users, giving market participants and regu-
lators an overview of derivative positions, which was not
previously possible.
REGIS-TR complements its services with other value-
added solutions, such as connection to collateral and
reconciliation services, and technological solutions
designed to enable efficient, low-cost, reporting.
REGIS-TR came into operation on 12 February 2014.
Detail, activity pannels Bolsa de Madri
55
Business Areas
Annual
Report 2013
BME
1...,45,46,47,48,49,50,51,52,53,54 56,57,58,59,60,61,62,63,64,65,...236