Central Securities Depositories Regulation 

Article 38(5) Offer and Article 38(6) Disclosure

The European Union’s Central Securities Depositories Regulation (CSDR) is one of the key regulations adopted in the aftermath of the global financial crisis. CSDR is designed to increase the safety and efficiency of securities settlements and settlement infrastructures as well as to apply high prudential requirements for Central Securities Depositories (‘CSDs’).

Under Article 38(5) of the CSDR, Platform Securities as a direct participant of a CSD in the European Economic Area (EEA) must offer its corporate clients whose securities are held through the CSD the choice between an Omnibus Client Segregated Account (OSA) and an Individual Client Segregated Account (ISA). In addition, article 38(6) of the CSDR requires Platform Securities to publicly disclose the levels of protection and the costs associated with the different levels of segregation that the accounts provide, and to offer those services on reasonable commercial terms.

 

Article 38 Central Securities Depositories Regulation Costs Disclosure