Harmonising European post-trade activities is essential for bolstering capital markets and better serving European citizens and companies. Progress is required in both enhancing the current landscape and developing digital solutions. This article concentrates on the present post-trade environment, with a particular focus on non-harmonised elements, particularly in securities settlement, collateral management and asset servicing. The Eurosystem supports the ongoing creation of a harmonised European rulebook with standards that address current barriers and improve existing post-trade processes in these areas. A coordinated roadmap is necessary to transition to the single rulebook, allowing Europe to fully benefit from enhanced data quality and end-to-end automation.
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