The European Securities and Markets Authority (Esma) announced on March 1 that, in the event of no deal Brexit, it will recognize - the day after Brexit - the Central Securities Depository (Csd) established in the UK (Euroclear UK and Ireland limited) as a third country allowed to provide its services in the European Union. Csd will be therefore allowed to exchange Irish securities, without a negative effect for financial markets. Esma considered that, even in the case of a no deal Brexit, this approach would be compliant with the rules of the Central Securities Depositories Regulation (Csdr) of the European Parliament (article 25) on the activities of the central depositaries of the member states of the European Union.

Download Esma Press Release 1^st March 2019