Financial Markets Infrastructure, Clearing and Settlement, CESAME2 group

CESAME 2 group


The “CESAME 2” Group is to follow up the work of the well-known “CESAME Group” (the European Commission’s Clearing and Settlement Advisory and Monitoring Expert Group), whose mandate expired on 16 June 2008. CESAME 2 is to carry the momentum built by CESAME in order to achieve the goal of a barrier-free Single European Market for clearing and settlement of securities transactions. The new CESAME 2 Group is composed of 30 high-level representatives of various, mainly private-sector, bodies involved in post trading, along with observers from public authorities.

Presentation of the group

Meetings

Date Documents
02.03.2010
Agenda PDF
Report PDF
Participants PDF

Commission presentations:

Members’ presentations and documents:

Official observers’ presentations:

Guests’ presentations:


20.10.2009
Agenda PDF
Report PDF
Participants PDF

Commission presentations:

Members’ presentations and documents:

Official observers’ presentations

Guests’ presentations


08.06.2009 Agenda PDFEnglish
  Report PDFEnglish
  Participants PDFEnglish
     
  Commission presentations  
  Barrier 3 – Interactions between standards and legislation PDFEnglish
  EU legislation on legal certainty of securities holding and transactions PDFEnglish
  Draft economic case on the FISCO proposal PDFEnglish
     
  Members’ presentations and documents  
  Harmonisation of Settlement Cycles Working Group
An update on Giovannini barrier 6
PDFEnglish
      Minutes of the first meeting of the Working Group PDFEnglish
      Participants list of the first meeting of the Working Group PDFEnglish
 

ECSDA, SIFMA, ICMA:
Update on work to address Barriers 2&10 and 4&7

PDFEnglish
      Interconnectivity Evaluation PDFEnglish
  Monte Titoli:
Interconnectivity issues of the Italian market
PDFEnglish
  SIFMA, EPDA:
Restrictions on Locations of Clearing and Settlement in the European Government Bond Markets
PDFEnglish
  Joint Working Group on General Meetings
Barrier 3: Corporate Actions – Market Standards on General Meetings
PDFEnglish
      Consultation on market standards for general meetings English
  Corporate Actions Joint Working Group
Barrier 3: Corporate Actions – Market Standards for Corporate Actions Processing
PDFEnglish
  SWIFT:
Countdown to 2011: Are you ready to break the Giovannini Barrier?
PDFEnglish
     
  Official observers’ presentations  
  ECB: ESCB-CESR Recommendations for Securities Settlement Systems and Central Counterparties PDFEnglish
  CEBS: CEBS work on custodian banks PDFEnglish
     
09.02.2009 Agenda PDFEnglish
  Report PDFEnglish
  Participants PDFEnglish
     
  Commission presentations  
  An update on Giovannini barrier 6 PDFEnglish
  EU legislation on legal certainty of securities holding and transactions PDFEnglish
     
  Members’ presentations  
 

SIFMA: Barrier 6 – Differences in standard settlement periods

PDFEnglish
 

ECSDA, SIFMA, ICMA:
Barriers 4 & 7, 2 & 10 – Update

PDFEnglish
     
  Official observers’ presentations and documents  
  ECB: T2S – Status update and work on harmonization PDFEnglish
  CEBS: CEBS work on custodian banks PDFEnglish
  CEBS: CEBS’s response to the ECOFIN’s request on custodian banks PDFEnglish
     
  Background documents  
  December ECOFIN Council Conclusions on Clearing and Settlement
(the draft was adopted without changes)
PDFEnglish
     
20.10.2008 Agenda PDFEnglish
  Report PDFEnglish
  Participants PDFEnglish
     
  Commission presentations and documents  
  An update on Giovannini barrier 2 PDFEnglish
  Barrier 3 – Introduction PDFEnglish
  Legal aspects of Barrier 3 – Advice of the LCG (presentation) PDFEnglish
  Legal aspects of Barrier 3 – Advice of the LCG (document) PDFEnglish
  Barriers 13 and 9 – Advice of the Legal Certainty Group PDFEnglish
  Exchange-traded derivatives PDFEnglish
  OTC Clearing PDFEnglish
     
  Members’ presentations  
  European Repo Council:
Revisiting Barriers 2, 9 & 10 – Practical impediments to clearing and settlement

PDFEnglish
 
 

EuroCCP:
Barrier 2: Location of Clearing and Settlement


PDFEnglish
  Corporate Actions Joint Working Group:
Barrier 3: Corporate Actions – Draft Market Standards for Corporate Actions Processing

PDFEnglish
 
  Joint Working Group on General Meetings:
Barrier 3: Corporate Actions – Part 2: Market Standards on General Meetings, Progress Report

PDFEnglish
 
 

ECSDA, SIFMA:
Barrier 7: Different opening hours for investors – Timetable / Milestones


PDFEnglish
  Eurex Clearing:
European OTC Central Counterparty for clearing services in OTC Derivatives

PDFEnglish
 

LCH.Clearnet Group:
SwapClear


PDFEnglish

Subgroup on Harmonisation of Settlement Cycles

Date Documents

27.05.2010 Meeting Minutes PDFEnglish
  Implementation and Monitoring Plan PDFEnglish
     
01.07.2010 Conference Call Minutes PDFEnglish
     
21.09.2010 Conference Call Minutes PDFEnglish
  Background documentation  
  - The role of settlement cycles in corporate actions processing PDFEnglish
  - Harmonisation of Settlement cycles: Reasons why T+1 was not considered as a valid option. PDFEnglish
  - The case for harmonising settlement cycles PDFEnglish

Last update: 13.01.2011