Introduction to Regulated Markets 

The Central Bank of Ireland is responsible for the regulation and supervision of Regulated Markets and Market Operators authorised in Ireland.

A regulated market is an authorised regulated market for the purposes of the Markets in Financial Instruments Directive (MiFID).

In Ireland, the sole regulated market is Euronext Dublin operated by the Irish Stock Exchange trading as Euronext Dublin.

The Irish Stock Exchange (trading as Euronext Dublin) is subject the requirements of various European Directives, including the Prospectus Directive, Transparency Directive, Market Abuse Directive and MiFID in relation to securities listed and admitted to trading on Euronext Dublin. 

These securities include equities, corporate bonds, government bonds, investment funds, exchange traded funds and specialist securities.

The Central Securities Depositories Regulation (CSDR)

The CSDR was published in the Official Journal of the European Union on 28 August 2014.

For further information in relation to establishing a Central Securities Depository (CSD) under Regulation (EU) No 909/2014 (Central Securities Depository Regulation) in Ireland click here.

A working group was established to ensure that Euroclear UK & Ireland (EUI), LCH.Clearnet, and UK and Irish trading venues and investment firms work together on the implementation of  a new Settlement Discipline Regime (SDR) that will meet all the requirements of the Central Securities Depositories Regulation (CSDR). 

Please find the minutes from the Working Group below:

 

SDRSG minutes March 2017 | doc 20 KB EUI SDRSG mintutes 200217 | doc 22 KB EUI SDRSG mintutes 190117 | doc 28 KB EUI SDRSG mintutes 171116 | doc 31 KB SDRWG minutes 16092016 | doc 30 KB SDWG minutes 18072016 | doc 29 KB SDRWG minutes 07062016 | doc 26 KB

Article 9(1) Reporting Requirements 

Pursuant to Article 9(1) of the CSDR settlement internalisers shall report to their competent authority on a quarterly basis the aggregated volume and value of all securities transactions that they settle outside securities settlement systems.  Further information can be obtained on ESMA’s website ; this includes guidelines, technical guidance and related XML files as well as XSD for ISO20022. 
The Central Bank has contacted firms likely to have a reporting obligation.  If you think that your firm will have an obligation to report settlement internalisation activity to the Central Bank of Ireland, and your firm has not been contacted, please complete the below questionnaire and return it to settlementinternaliser@centralbank.ie.  The first reports are due within 10 working days of 30 June 2019 (i.e. by 12 July 2019) and cover the period from April to June 2019.
 
Questionnaire | xls 15 KB