The CSD Regulation applies to European central securities depositaries (CSDs) and any entities being participants in those CSDs. The objective is to introduce a European regime governing CSDs, whilst EMIR governs CCPs and MiFID governs trading venues and investment firms.
Although CSDR was published in July 2014, it is coming into force gradually. The EU Commission published in November 2016 Regulatory Standards on:
The technical standard on settlement discipline has not yet been published.