Stocks

The Central Securities Depositories Regulation No 909/2014 (CSDR) is a European Union regulation that aims to improve the safety and efficiency of securities settlement and settlement infrastructures within the European Economic Area (EEA).

CSDR is a phased regulation and most of its provisions have already been implemented since it was first introduced in 2014.

As a direct participant in European Economic Area (EEA) Central Securities Depositories (CSD), we are required, under the European Union (EU) Central Securities Depositories Regulations (CSDR), to (i) offer our customers whose securities are held through the EEA CSD the choice between an Omnibus Client Segregated Account (OSA) and an Individual Client Segregated Account (ISA), and (ii) publicly disclose the level of protection and the costs associated with the different levels of segregation that the accounts provide. Please refer to the Notice and the fee table for relevant details. Frequently Asked Questions are available here.

The second phase of CSDR defines a Settlement Discipline Regime (SDR) was effective on 1 February 2022. Its main objective is to incentivise timely settlements by introducing a set of measures to prevent, monitor and address settlement fails. This may include the following: 

• Process and system enhancements across the EEA CSDs and market participants;
• The introduction of cash penalties against parties causing settlement fails; 
• The introduction of mandatory buy-ins, whereby buying parties whose instruments have not been delivered for a set number of days are to be restored to the economic position as if the transaction had settled on time.

To find out more, please read the information and FAQs to understand the potential implications of CSDR SDR for our HSBC and our customers with holdings in EEA CSD.

The Bank does not provide investment advice. Stock trading services provided through any channel involve no solicitation of the sale or recommendation of, or advice on, any product from us. All transactions involving the purchase and sale of shares that you enter into any channel are conducted on an execution-only basis and based on your own judgment; and are not in any way a confirmation or an endorsement from us that it is suitable for you. Investment involves risk. The price of stocks may move up or down. Losses may be incurred as well as profits made as a result of buying and selling stocks. Full details of the terms and conditions of the above services are available on request.

The information shown is based on data obtained from sources believed to be reliable but the Bank and the concerned Information Provider(s) make no representation and accept no responsibility as to its accuracy or completeness and shall not be held liable for damages arising out of any person's reliance upon this information. This information is neither a recommendation, an offer to sell, nor solicitation of an offer to purchase any investment. The prices quoted and the other information shown are for reference only and are subject to change without notice.