UK CSD to be recognised by ESMA in the event of a no-deal Brexit

ESMA has announced that in the event of a no-deal Brexit, the Central Securities Depository (CSD) established in the UK, Euroclear UK and Ireland Ltd, will be recognised as a a third country CSD to provide its services in the EU.

ESMA stated that it has adopted this recognition decision in order to allow the UK CSD to serve Irish securities, thus avoiding any negative impact on the Irish securities market.