What CSDR means for Monte Titoli

Monte Titoli, a leading company in post-trade services and part of the London Stock Exchange Group, has obtained from the Consob Supervisory Authorities and the Bank of Italy, the authorization to provide services as a central depository in accordance with the CSDR Regulation (EU) n. 909/2014.

Below a schematic representation of areas of interest for CSD:

Organisational requirements:

In continuity with the current organizational structure, Monte Titoli has strengthened the existing governance in order to ensure effective identification and risk management as well as detection of potential conflicts of interest with its Clients

Prudential requirements:

Monte Titoli has implemented procedures and controls to monitor the new capital requirements foreseen by European legislation

Conduct of Business Rules:

In line with European regulation, Monte Titoli has adopted a pricing policy to guarantee the transparency of fees for Settlement and Centralized administration Services. In addition, the creation of a User Committee (new section link) with advisory powers is foreseen, the User Committee  will be able to intervene on  topics relevant to the actors involved in the services.

Operational requirements:

Monte Titoli operational activities do not undergo any significant change due to the applicable legislation. The main innovations will be with the implementation of new buy-in procedures and penalties that are still under finalization by the European regulation.