ISDA Technical Comments on EC Settlement Finality Regulation
Summary
On April 9, 2026, ISDA published technical comments on the European Commission's proposed Settlement Finality Regulation addressing designated EU systems and registered third-country systems. ISDA identified concerns about unduly restricted insolvency protections for third-country systems and provided feedback on Financial Collateral Directive changes to facilitate distributed ledger technology implementation.
What changed
ISDA published technical comments responding to the European Commission's proposed Settlement Finality Regulation, which would establish rules for designated EU systems and registered third-country systems. The comments highlight that the scope of insolvency protections for registered third-country systems is unduly restricted under the proposed framework. ISDA also addressed proposed changes to the Financial Collateral Directive aimed at facilitating distributed ledger technology implementation in collateral arrangements.
Financial institutions engaged in cross-border settlement, derivatives counterparties, and firms exploring DLT-based collateral solutions should monitor this regulatory development. The EC's proposal, once finalized, could significantly affect how third-country clearing and settlement systems access EU insolvency protections and how financial institutions implement emerging technologies for collateral management.
What to do next
- Monitor for EC Settlement Finality Regulation developments
- Review comments on third-country system insolvency protections
- Assess DLT implications for collateral arrangements
Archived snapshot
Apr 10, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
- Public Policy
- Europe
- ISDA Response to EC’s Settlement Finality Regulation Proposal
ISDA Response to EC’s Settlement Finality Regulation Proposal
On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to registered third-country systems by the new framework is unduly restricted. The technical comments also cover proposed changes to the Financial Collateral Directive to facilitate the implementation of distributed ledger technology.
Tags:
Digital, Distributed Ledger Technology (DLT), European Commission (EC), Legal
Documents (1)
Latest
Response on EC’s SFR Proposal
On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to...
Natixis CIB Adopts ISDA’s DRR
ISDA has announced that Natixis CIB has adopted ISDA’s Digital Regulatory Reporting (DRR) solution, enabling the bank to meet regulatory reporting requirements more efficiently and accurately. The ISDA DRR uses the Common Domain Model (CDM) – an open-source data standard...
Paper on MIFIR PTT
On April 7, ISDA, the Association for Financial Markets in Europe (AFME), the International Capital Market Association (ICMA) and the European Banking Federation (EBF) published a paper on proposals relating to post-trade transparency (PTT) under the Markets in Financial Instruments...
Data Integrity for Single-sided Reporting
On April 2, ISDA published a paper on why single-sided reporting does not compromise the quality and integrity of data received by supervisors. The paper addresses concerns among regulators that moving from dual-sided reporting would adversely affect the quality of...
Related changes
Get daily alerts for ISDA News
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from ISDA.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when ISDA News publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.