EU action on clearing and settlement

Mattias Levin. CEPS

Clearing and settlement arrangements have, for the past year, been firmly entrenched on the EU agenda. As the Financial Services Action Plan (FSAP) proceeds towards its deadlines (2003 for securities markets, 2005 for the overall plan), problems concerning the underlying structure of markets have come sharply into focus. The EU’s policymakers aware that time is slipping away and are therefore trying to discern the nature of the current problem and devise a solution.This is currently taking place in two inter-related forums.