On 2 February 2021, ISDA, FIA and FIA EPTA submitted a joint response to the European Commission’s (EC) targeted consultation on the review of the settlement and central securities depositories regulation (CSDR). The Associations outline their members’ concerns with regards to detrimental effects arising from the application of the CSDR mandatory buy-in regime for derivatives markets. The Associations request the European Commission and the co-legislators to clarify that the mandatory buy-in requirements of the CSDR settlement discipline regime do not apply in the context of margin transfers, physically settled derivatives and emission allowances.
