The European Securities and Markets Authority said EU market participants should not be prevented from continuing to use services provided by third-country central securities depositories after Jan. 17, 2027, pending completion of EU legislation to extend the current transitional regime. That regime currently allows certain third-country CSDs to provide notary and central maintenance services for financial instruments constituted under the law of EU member states, and it had been due to expire on that date. ESMA said the market integration and supervision package now under negotiation includes a proposal to extend the arrangement. It also noted that both the Council of the European Union and the European Parliament support an extension.
The European Securities and Markets Authority (ESMA) said EU market participants should not be prevented from continuing to use services from third-country central securities depositories (CSDs) after Jan. 17, 2027, until the European Union completes legislation to extend the current transitional regime.
The existing regime allows certain third-country CSDs to provide notary and central maintenance services for financial instruments constituted under the law of EU member states. It had been set to expire on Jan. 17, 2027.
ESMA said the market integration and supervision package currently under negotiation proposes extending the regime, and that both the Council of the European Union and the European Parliament back that extension.
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