ESMA says access to third-country CSDs will continue past January 2027 deadline

ESMA has issued a statement addressing uncertainty over what happens when the transitional regime for third-country Central Securities Depositories expires on 17 January 2027, before EU legislation extending it is finalised. This matters for issuers and other market participants relying on notary and central maintenance services from non-EU CSDs.

• The current transitional regime for third-country CSDs is set to expire on 17 January 2027.
• ESMA's statement, reference ESMA74-2119945926-3877, was published on 7 October 2026.
• The Market Integration and Supervision Package, which proposes extending the transitional regime, remains under negotiation.
• ESMA states it understands both the Council of the European Union and the European Parliament support an extension.
• Issuers had raised concerns about operational challenges stemming from uncertainty over continued access to third-country CSD services.

Executive summary

ESMA published a statement on 7 October 2026 clarifying that EU market participants should not be prevented from accessing the services of third-country Central Securities Depositories (CSDs) beyond 17 January 2027, the date on which the current transitional regime is…

Machine-verified against the primary source, then read, edited and published by the Regulus editorial desk on 19 Oct 2026.