CSDR Settlement Discipline Regime - Reminder: Your action required - subscription to penalties reporting
The objectives of the Regulation (EU) N° 2018/1229 supplementing Regulation (EU) N° 909/2014 with regard to Regulatory Technical Standards on settlement discipline are multiple: to prevent and address settlement fails, to monitor settlement fails, to identify all transactions that remain unsettled after the intended settlement date, to calculate penalties resulting from late matching and/or late settlement, to report such penalties, to charge, collect and distribute cash penalties for settlement fails in coherence with the Commission Delegated Regulation (EU) 2017/389.
In this context, LuxCSD1 customers are required to subscribe to receive daily and monthly MT537 PENA messages or query penalties via the Xact Web Portal in order to manage their cash penalties and payment obligations from 1 February 2022.
The subscription can be created in Xact Web Portal:
- Click on Reporting & Monitoring, Manage Report Subscriptions in the main menu of Xact Web Portal. The screen will open with the Query view.
- Click on "Create".
- The report wizard will open.
- Complete the fields as required. Fields with an * are mandatory.
- Click on "Submit".
Note: Access to the Xact Web Portal is also required for customers to be able to raise penalty “appeals” to LuxCSD.
Further information
For further information, please contact the LuxCSD Connectivity Helpdesk or your Relationship Officer or consult the LuxCSD website.
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1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.