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Divisions and committees
Post Trade
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Post Trade
Post trade focuses on the creation of a single integrated post-trading process for securities transaction in Europe
Overview
The Post Trade Division seeks to achieve harmonisation, standardisation and consolidation through best practice and regulation. Providing clearing, settlement and custody solutions to reduce costs and risks of market participants, the division’s work covers the operational, legal, tax, and regulatory aspects of post-trading.
GFMA Legal Entity Identifier
Market Standards for Corporate Actions Processing: Revised 2012 - Updated 2015
Buyer Protection Instruction March-May 2014
See our
CSDR
page
Key Priorities:
Contribute to the European Commission’s Capital Markets Union project in the post trade space
Represent and support members in the process of developing the T2S system
Work with members and policymakers to implement the complex buy in rules CSD Regulation
Promote, monitor and verify the implementation of the Markets Standards for Corporate Actions
Actively support the results of the European Post Trade Forum (EPTF) report
T+1 Settlement in Europe: Potential Benefits and Challenges
CSDR
The Central Securities Depositories Regulation (CSDR) is covered by AFME’s Post-Trade division and looks to increase the safety and efficiency of securities settlement.
See our CSDR page
AFME Due Diligence Questionnaire
The AFME DDQ Document is used widely across Europe as well as in Americas and Asia to harmonise and simplify the process of completing questionnaires for global custodians, sub custodians and banks that hold client money.
See our Due Diligence Questionnaire page
Key Documents
Key Documents
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Key Documents
May 2024
AFME comments on Digital Securities Sandbox – joint Bank of England and FCA consultation
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February 2024
AFME response to ESMA’s consultation for the review of the CSDR Cash Penalty Mechanism
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February 2024
AFME response to ESMA’s consultation for the review of the CSDR Cash Penalty Mechanism (Cover Note)
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13 May 2022
AFME’s views on Capital Markets Union – Action 10 (Withholding Tax) and Action 12 (Shareholder Rights)
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October, 2021
AFME Position on non-SDR Priorities for the CSDR Review
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10 July, 2020
Survey of Topics for the CSDR Review – AFME Response
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AFME Recommendations for Partial Settlement
View Online
22 January, 2020
Joint Trade Association Letter regarding Implementation of the CSDR Settlement Discipline Regime
AFME, toghether with 13 other trade associations, have written to the European Commission and ESMA to highlight the impact of the implementation of the CSDR Settlement Discipline Regime on European capital markets.
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December, 2019
Framework of Platform for Managment of Buy-Ins under CSDR
With this framework AFME seeks to minimise the number of buy-ins as per article 7.10 of CSDR and automate the processing. These high level requirements have been developed to help vendors build the relevant enabling technology.
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February, 2015
Post Trade explained: the role of post-trade services in the financial sector
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See more resources
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See more resources
2019
AFME Post Trade Due Diligence Questionnaire
Update – For 2020, please use this 2019 version. Network Managers were keen to see the document stabilised and no changes were made. This document aims to standardise and simplify the process of completing due diligence questionnaires for subcustodians.
View Online
May, 2018
A Roadmap for Integrated, Safe and Efficient Post Trade Services in Europe
Our vision is for a truly integrated, harmonised, low risk and low-cost post trading system in Europe, post trade infrastructures and service providers that compete in a harmonised and standardised operational, legal and regulatory environment, offering innovative and low-cost services to all users on a non-discriminatory basis.
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Spanish Equity Cash Dividends: Market Practice for Failed Settlements
This document is intended to provide the details for a market practice to handle cash compensations (formally known within the industry as ‘market claims’), between trading counterparties, related to failed settlement of Spanish equity transactions over dividend record date (RD) post the market changes as part of the Spanish Market Reform (SMR).
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15 May, 2017
Final Report of the European Post Trade Forum
In early 2016 the European Commission set up an informal expert group on post-trading, including the areas of collateral markets and derivatives. The objective of the EPTF was “to support the work of the Commission to review the developments in post-trading, including collateral management services, in line with the CMU, in order to promote more efficient and resilient market infrastructures in the EU”.
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OPTIC 2024 (Operations, Post-Trade, Technology & Innovation Conference)
OPTIC, now in its third year, is returning to the UK for 2024! AFME’s annual Operations, Post-Trade, Technology & Innovation conference brings together the industry’s leading voices, to discuss the role of technology in developing capital markets in Europe, with particular focus on the world of operations and post trade.
More information
Contacts
Our experts are always on hand to help. Use the contacts below for any immediate queries regarding Post Trade:
Peter Tomlinson
Director, Post Trade and Prime Services
[email protected]
+44 (0)20 3828 2684
Pablo García Rodríguez
Manager, Post Trade
[email protected]
+44 (0)203 828 2717
Press Releases
Publications
Consultation Responses
Briefing Notes
Press Releases
Publications
Consultation Responses
Briefing Notes
See all press releases
Press Releases
European T+1 Industry Task Force comments on recent UK report on moving to T+1 and outlines its next steps
9 Apr 2024
Press Releases
AFME responds to the publication of the Accelerated Settlement Taskforce Report
28 Mar 2024
Press Releases
AFME responds to ESMA consultation on shortening settlement cycles in the EU
15 Dec 2023
See all publications
Publications
High-level Roadmap for Adoption of T+1 in EU Securities Markets
14 Oct 2024
Publications
Developing European Capital Markets in a Period of Geopolitical Changes
11 Sep 2024
Publications
TARGET2-Securities: Review of current model and future prospects
5 Jun 2024
See all consultation responses
Consultation Responses
AFME Response to the Consultation Paper on Technical Advice on the Scope of CSDR Settlement Discipline
10 Sep 2024
Consultation Responses
AFME comments on Digital Securities Sandbox – joint Bank of England and FCA consultation
29 May 2024
Consultation Responses
AFME response to ESMA’s consultation for the review of the CSDR Cash Penalty Mechanism
1 Mar 2024
See all briefing notes
Briefing Notes
Joint association statement on MIFIR RTS 2 post-trade deferrals for bonds
3 Oct 2024
Briefing Notes
T+1 European Impact on Corporate Actions
3 Sep 2024
Briefing Notes
The first step towards digitisation: increasing payment of dividends through CREST
4 Jan 2023