ESMA published its final report on the revised CSDR messaging protocols guidelines on 16 October 2026 (ESMA74-2119945926-3749), two days after Commission Delegated Regulation (EU) 2026/1536 appeared in the Official Journal. The formal title is the guidelines on standardised procedures and messaging protocols used between investment firms and their professional clients. From 7 December 2026, the…
On 8 September 2026, the Canadian Depository for Securities (CDS) begins the first, dry-run stage of the fail fee framework for Government of Canada (GoC) securities. During this stage, CDS calculates indicative 50 basis point fees for chargeable seller-side DvP fails in GoC bills, nominal bonds, real return bonds and strips. CIMPA and CDS, on…
The European Union will move to a T+1 securities settlement cycle on 11 October 2027. ESMA identifies 7 December 2026 as the first regulatory deadline for allocations and confirmations. The European Commission adopted the amending Delegated Regulation on 6 July 2026 as C(2026) 4640 final; it is currently under scrutiny by the European Parliament and…
What Is MiFIR Transaction Reporting? Article 26 in Plain Terms MiFIR transaction reporting is the obligation, set out in Article 26 of Regulation (EU) No 600/2014 (MiFIR), that applies to investment firms and, under Article 1(2), to credit institutions when they provide investment services and/or perform investment activities. Where such an entity executes a reportable…