On 28 November 2019, the Malta Financial Services Authority (the "Authority") issued a circular on the go live of the test environment for the settlement internalisers platform in the framework of improving securities settlement in the EU.
Article 9 of CSDR introduces a requirement whereby settlement internalisers are requested to report to the Authority on a quarterly basis the aggregated volume and value of all securities transactions they settle outside securities settlement systems. The Authority was working on a submission platform enabling settlement internalisers to meet such reporting requirements and with this circular the Authority informed market participants that the development of the settlement internalisers platform has been completed and the test environment is set to go live.
The test environment will be available form 2 December 2019 through 14 December 2019 and settlement internalisers willing to participate in the test shall contact the Authority.
Data in the settlement platform should be submitted in XML format, conforming with the XSD schema provided by ESMA.
A copy of the MFSA circular can be obtained by clicking here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
