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Part VII Facilitating Cross-Border Investing, 24 Efforts to Strengthen the Clearing and Settlement Framework of the Capital Markets Union

Bas Zebregs, Victor de Serière

From: Capital Markets Union in Europe

Edited By: Danny Busch, Emilios Avgouleas, Guido Ferrarini

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 April 2024

Capital markets — Central counterparty (CCP) — Settlement — Financial regulation

This chapter discusses the EU's efforts to strengthen the European clearing and settlement framework for securities and derivatives transactions. That exercise is pa should promote access and therefore competitrt of the EU's plans to establish an integrated European Capital Markets Union. Important steps have already been undertaken, and more legislation is now under construction, designed to lead to a comprehensive robust market infrastructure in the EU. These include the EU Commission's proposals to update the segregation provisions in the European Market Infrastructure Regulation and the proposed regulation dealing with the recovery and resolution of central counterparties. The chapter shows that although the advances made are significant, there is quite a long way to go before a fully integrated and risk-averse environment for clearing and settlement is achieved.

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