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CESAME group

Presentation of the group

CESAME report

08.12.2008  The CESAME Group publishes its report on the progress on removing the Giovannini barriers

Meetings

DateDocumentReference
16.06.2008  Agendapdf Choose translations of the previous link CESAME/2/2008
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
18.02.2008Agendapdf Choose translations of the previous link CESAME/1/2008
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
 List of abbreviationspdf Choose translations of the previous link  
 Documents pertaining to Giovannini barrierszip   
22.10.2007Agendapdf Choose translations of the previous link CESAME/3/2007
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
11.06.2007Agendapdf Choose translations of the previous link CESAME/2/2007
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
12.02.2007Agendapdf Choose translations of the previous link CESAME/1/2007
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
 Documents pertaining to Giovannini barriersmsw8 Choose translations of the previous link  
23.10.2006Agendapdf Choose translations of the previous link CESAME/3/2006
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
12.06.2006Agendapdf Choose translations of the previous link CESAME/2/2006
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
20.02.2006Agendapdf Choose translations of the previous link CESAME/1/2006
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
24.10.2005Agendapdf Choose translations of the previous link CESAME/3/2005
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
10.06.2005Agendapdf Choose translations of the previous link CESAME/2/2005
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
07.03.2005Agendapdf Choose translations of the previous link CESAME/1/2005
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
25.10.2004Agendapdf Choose translations of the previous link CESAME/2/2004
 Reportpdf Choose translations of the previous link  
 Participantspdf Choose translations of the previous link  
 Operational Conclusionspdf Choose translations of the previous link  
16.07.2004Agendapdf Choose translations of the previous link CESAME/1/2004
 Reportpdf Choose translations of the previous link  
 Participants pdf Choose translations of the previous link  

European Commission presentations

Giovannini indicators for barriers 3 and 4/7 (06/2008)pdf Choose translations of the previous link 
Preliminary conclusions of the LCG on Giovannini barrier 9 (02/2008)pdf Choose translations of the previous link 
Update on the work of the Legal Certainty Group (06/2007)pdf Choose translations of the previous link 
Corporate actions (06/2007)pdf Choose translations of the previous link 
Report on second ad-hoc meeting on corporate actions (06/2007)pdf Choose translations of the previous link 
Measuring Progress in Dismantling the Giovannini Barriers (06/2007)pdf Choose translations of the previous link 
The draft Directive on Shareholders‘ rights - facilitating the cross-border exercise of voting rights (02/2007)pdf Choose translations of the previous link 
Dismantling the Giovannini barriers - building an indicator on the progress (02/2007)pdf Choose translations of the previous link 
Corporate actions (02/2007)pdf Choose translations of the previous link 
Report on ad-hoc meeting on corporate actions (02/2007)pdf Choose translations of the previous link 
Post-trading infrastructure: how to foster integration? (joint presentation with ECB) (10/2006)pdf Choose translations of the previous link 
Corporate actions (10/2006)pdf Choose translations of the previous link 
Results of the consultation on DG COMP's issues paper (10/2006)pdf Choose translations of the previous link 
Restrictions on the location of clearing and settlement in the EU government bond markets (06/2006)pdf Choose translations of the previous link 
Securities Trading and Post-trading: Findings of DG Competition's Issues Paper (06/2006)pdf Choose translations of the previous link 
Update on work on definitions (06/2006)pdf Choose translations of the previous link 
Data requestpdf Choose translations of the previous link 
Update on work on definitionspdf Choose translations of the previous link 
Proposal for a Directive to facilitate the exercise of shareholders' voting rightspdf Choose translations of the previous link 
Survey on Retail Pricespdf Choose translations of the previous link 
State of play within the FISCO grouppdf Choose translations of the previous link 
Commission services working document on definitions of post-trading activities - Working document - 27.10.2005pdf Choose translations of the previous link 
Report on Definitionspdf Choose translations of the previous link 
Report on the Scientific Seminar in the Framework of the Impact Assessment for Clearing and Settlementpdf Choose translations of the previous link 
Clearing and Settlement in the European Union - The way forward : Analysis of the responses to the consultationpdf Choose translations of the previous link 
Detailed summary of the responses to the Communication of 28/4/2004pdf Choose translations of the previous link 
Fostering an appropriate regime for shareholders' rightspdf Choose translations of the previous link 
Clearing and Settlement Impact Assessment - Table of Contentspdf Choose translations of the previous link 
Clearing and Settlement Impact Assessment - Chapters 1, 3 and 4pdf Choose translations of the previous link 
Clearing and Settlement Impact Assessment - Chapter 5pdf Choose translations of the previous link 

Clearing and Settlement Impact Assessment - Annex Ipdf Choose translations of the previous link 

Clearing and Settlement Impact Assessment - Annex IIpdf Choose translations of the previous link 

Other European institutions' presentations

ECB (02/2007): TARGET2-Securitiespdf Choose translations of the previous link 
ECB (06/2007): TARGET2-Securities keeps movingpdf Choose translations of the previous link 
ECB (10/2007): TARGET2-Securitiespdf Choose translations of the previous link 
ECB (02/2008): TARGET2-Securitiespdf Choose translations of the previous link 
ECB (06/2008): Removing Giovannini Barrier 7 - Methodologypdf Choose translations of the previous link 

Members' documents relating to the Giovannini Barriers

ANNA (06/2008) - Role of ANNA within ISOpdf Choose translations of the previous link 
BNP Paribas/SWIFT (10/2004)pdf Choose translations of the previous link 
SWIFT (03/2005)pdf Choose translations of the previous link 
SWIFT (06/2005)pdf Choose translations of the previous link 
SWIFT (10/2005)pdf Choose translations of the previous link 
SWIFT (02/2006)pdf Choose translations of the previous link 
SWIFT (06/2006)pdf Choose translations of the previous link 
SWIFT (02/2007)pdf Choose translations of the previous link 
SWIFT (06/2007)pdf Choose translations of the previous link 
SWIFT (10/2007)pdf Choose translations of the previous link 
SWIFT (02/2008) - SWIFT/ISSA Survey on Giovannini Protocol Adoption Requirementspdf Choose translations of the previous link 
SWIFT (06/2008) - Following up on Giovannini Barrier 1pdf Choose translations of the previous link 
SWIFT (06/2008) - The success of ISO 20022 – UNIversal Financial Industry message schemepdf Choose translations of the previous link 
Fortispdf Choose translations of the previous link 
FBEpdf Choose translations of the previous link 
FBE (06/2006) - Position on evolution of post-trading in the European Single Marketpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBEpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBEpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2005) - Presentationpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2005) - Backgroundpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE - Synopsis of standards related to distributionspdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (02/2006) - Harmonisation of Corporate Actions Processing in Europepdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (06/2006) - Harmonisation of Corporate Actions Processing in Europepdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2006) - Harmonisation of Corporate Actions Processing in Europe (presentation)pdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2006) - Harmonisation of Corporate Actions Processing in Europe (background)pdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2006) - Harmonisation of Corporate Actions Processing in Europe (background)pdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (02/2007) - Corporate actions - barrier 3pdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (06/2007) - Corporate actions - barrier 3pdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2007) - Harmonisation of Corporate Actions Processing in Europe, Progress Reportpdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (10/2007) - Market standards on mandatory distributionspdf Choose translations of the previous link 
EALIC/ECSDA/ESF/FBE (02/2008) - Harmonisation of Corporate Actions Processing in Europe, Progress Reportpdf Choose translations of the previous link 
EuropeanIssuers/ECSDA/ESSF/ECSA (06/2008) - Harmonisation of Corporate Actions Processing in Europe, Progress Reportpdf Choose translations of the previous link 
CEECSDApdf Choose translations of the previous link 
FBE/ESBG/EACBpdf Choose translations of the previous link 
FBE/ESBG/EACB (03/2005)pdf Choose translations of the previous link 
FBE/ESBG/EACB (06/2005)pdf Choose translations of the previous link 
FBE/ESBG/EACB (02/2007)pdf Choose translations of the previous link 
IPMApdf Choose translations of the previous link 
ECSA (04/2005)pdf Choose translations of the previous link 
ECSA/FBE (02/2006) - Corporate Actions Workshoppdf Choose translations of the previous link 
ECSA/FBE (02/2006) - Legal Barrierspdf Choose translations of the previous link 
ECSA/FBE (02/2006) - Corporate Action Recommendations Gap Analysis Survey Resultspdf Choose translations of the previous link 
ECSDApdf Choose translations of the previous link 
ECSDApdf Choose translations of the previous link 
ECSDA (06/2005) - Reportpdf Choose translations of the previous link 
ECSDA (06/2005) - Press Releasepdf Choose translations of the previous link 
ECSDA (10/2006) - Reportpdf Choose translations of the previous link 
ECSDA - The ECSDA gap analysis / implementation plan related to distributionspdf Choose translations of the previous link 
ECSDA - The gap analysis prepared in Italy jointly by Assonime, ABI and Borsa Italiana Group (including Monte Titoli) related to distributionspdf Choose translations of the previous link 
ECSDA (06/2006) - Presentation on Giovannini barriers 4 and 7pdf Choose translations of the previous link 
ECSDA (06/2006) - Second annual status report relating to standards for the removal of Giovannini barriers 4 and 7pdf Choose translations of the previous link 
ECSDA (06/2007) - Harmonisation of Opening Days and Hours in Europepdf Choose translations of the previous link 
ECSDA (06/2008) - Progress Report on Giovannini Barrier 4 and 7pdf Choose translations of the previous link 
ECSDA/CEECSDA (09/2005)pdf Choose translations of the previous link 
ECSDA/EPDA (10/2007) - Dismantling Giovannini Barrier 4 and 7 - Status reportpdf Choose translations of the previous link 
ECSDA/ESF (10/2005)pdf Choose translations of the previous link 
ECSDA/ESF (10/2007) - Interim report on harmonised matching standardspdf Choose translations of the previous link 
ECSDA/ESSF (06/2008) - Status Report on the Implementation of Harmonised Matching Processespdf Choose translations of the previous link 
ECSDA/ESSF (06/2008) - Status Report on the Implementation of Harmonised Matching Processes (presentation)pdf Choose translations of the previous link 
EIBpdf Choose translations of the previous link 
EPDA (02/2006) - Clearing and settlement within the EU bond marketpdf Choose translations of the previous link 
EPDA (02/2006) - Clearing and settlement within the EU bond market (annex A)pdf Choose translations of the previous link 
EPDA (02/2006) - Clearing and settlement within the EU bond market (annex B)pdf Choose translations of the previous link 
EPDA (06/2006) - Giovannini barrier 10pdf Choose translations of the previous link 
EPDA (06/2006) - Practical Examples of Barrier 10 impact on the Clearing and Settling of European Government Bondspdf Choose translations of the previous link 
EPDA/ICMA (06/2006) - Giovannini barriers 4 and 7pdf Choose translations of the previous link 
EPDA/ICMA (06/2006) - Giovannini barriers 4 and 7: Intraday Settlement Testingpdf Choose translations of the previous link 
EPDA/EPDA/ICMA (10/2006) - Harmonisation of Opening Days and Hours in Europe (presentation)pdf Choose translations of the previous link 
ESF (10/2006) - Abstract of proposals to harmonise and standardise key corporate actions processespdf Choose translations of the previous link 
ESF/ECSDA (10/2006) - Proposals to harmonise and standardise pre-settlement date matching processes throughout Europepdf Choose translations of the previous link 
EUROCLEARpdf Choose translations of the previous link 
FESE/EACH/ECSDA (02/2007) - Implementation Progress towards the Code of Conductpdf Choose translations of the previous link 
FESE/EACH/ECSDA (06/2007) - Implementation Progress towards the Code of Conductpdf Choose translations of the previous link 
FESE/EACH/ECSDA (10/2007) - Implementation Progress towards the Code of Conductpdf Choose translations of the previous link 
FISCO (10/2007) - Presentation on FISCO Second Report on Solutionspdf Choose translations of the previous link 
ICMA (02/2007)pdf Choose translations of the previous link 
ISO (10/2006) - Background on barrier 8pdf Choose translations of the previous link 
ISSA (10/2007) - Letter on ISINpdf Choose translations of the previous link 
LCH.Clearnet (02/2006) - Discussion paper: The Need to Remove Structural Barriers to Consolidation of CCP Clearingpdf Choose translations of the previous link 
Link-Up Markets (06/2008)pdf Choose translations of the previous link 
Monte Titoli (06/2006) - The approach to IT convergence in the post-trading industrypdf Choose translations of the previous link 
Omgeo (10/2006) - Giovannini Barrier 6: “Same Day Affirmation” Best Practice Recommendationspdf Choose translations of the previous link 
Oxera (10/2006) - What are the costs, prices and volumes of post-trade services for securities trading in the EU?pdf Choose translations of the previous link 
Oxera (06/2007) -Methodology to monitor changes over time in prices, volumes and costs of trading and post-trading activitiespdf Choose translations of the previous link 
Oxera (10/2007) - Price monitoring of trading and post-trading activitiespdf Choose translations of the previous link 
Oxera (02/2008) - Price monitoring of trading and post-trading activitiespdf Choose translations of the previous link 
G30 initiatives

Participantspdf Choose translations of the previous link 

Task Matrix EMC G30pdf Choose translations of the previous link 

European Co-chairs Inventory Statuspdf Choose translations of the previous link 

G30 Baseline Assessment - Reporting Frameworkpdf Choose translations of the previous link 

G30 EMC supportive organisations: Advisors and Observerspdf Choose translations of the previous link 

Global Clearing and Settlement - Plan of Action Progress Monitoring October 2004 – Working Draftpdf Choose translations of the previous link 

Action from Private Market Participants - G30 Initiatives for each barrierpdf Choose translations of the previous link 

Users' corner - documents and presentations

PensPlanpdf Choose translations of the previous link  (02/2007)
Alistair Milne (02/2006) - Standard setting and competition in securities settlementpdf Choose translations of the previous link  (external link)
Alistair Milne (02/2006) - Standard setting and competition in securities settlementpdf Choose translations of the previous link  (presentation)
EFAMA (06/2006) - Users view on Post-Trading Barrierspdf Choose translations of the previous link  (presentation)
EFAMA (06/2006) - Users view on Post-Trading Barrierspdf Choose translations of the previous link  (background paper)
Merrill Lynch (02/2006) - A User Perspective on European Clearing & Settlementpdf Choose translations of the previous link 
Robecopdf Choose translations of the previous link  (02/2006)

Other EU Institutions' and Committees' opinions

  • The Council Conclusions on Clearing and Settlementpdf
     
  • The European Economic and Social Committee report
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  • European Parliament resolution on the communication from the Commission to the Council and the European Parliament entitled Clearing and settlement in the European Union: main policy issues and future challenges (Andria Report)
     
  • European Parliament Resolution on Clearing and Settlement in the European Union (Kauppi Report)
     
  • ESCB/CESR

Latest developments

  • On 9 October 2007 the Council published conclusionspdf on clearing and settlement
  • On 28 November 2006 the Council published conclusionspdf on clearing and settlement
  • Oxera Consulting Ltd. was awarded the contract for developing the methodology to monitor changes over time of costs, prices and volumes of post-trading activities in the field of financial markets.
  • Commissioner Charlie McCreevy's speech Choose translations of the previous link  outlining the way forward in the post-trading area, delivered on 11 July 2006 at the meeting of the Economic and Monetary Affairs Committee of the European Parliament.
  • On 7 July 2006 the European Central Bank announced that the Eurosystem is evaluating opportunities to provide settlement services for securities transactions. For more information visit the ECB's website.
  • Press release Choose translations of the previous link  on the meeting of Commissioner Charlie McCreevy and Dr. Alberto Giovannini with industry leaders
  • Joint press release Choose translations of the previous link  by Competition and Internal Market Commissioners on clearing and settlement
  • Giovannini Barrier 1 - SWIFT releases final recommendation for the communication protocol  Englishpdf Choose translations of the previous link 
  • The tender notice for the Study to define a methodology to monitor changes over time of costs, prices and volumes of post-trading activities in the field of financial markets, and then to apply that methodology, was published in the Official Journal of the EU (OJ S69) on the 8th of April.