16/04/2014 (Agence Europe) - More secure central depositories. A new regulation was endorsed by the European Parliament on Tuesday 15 April that requires all securities transactions to be registered with central securities depositories (CSD), such as Clearstream or Euroclear. The delivery deadlines for securities have been harmonised at no more than 2 working days after the deal and the rules, inspired by global standards, allow the risks surrounding dealing and services provided by CDS to be managed. In exchange, the CSD will be given a “European passport” to enable them to operate anywhere in the EU. The regulation needs to be in place before the European Central Bank begins its “Target 2 securities” single clearing house for the eurozone in 2015. (MB)