Full testing will allow firms to decide whether to become SIs.
Two agreements provide certainty and minimise regulatory arbitrage.
The rules make it easier for businesses to raise money on capital markets.
Issuance can be consolidated at one CSD rather than across separate countries.
Platform harmonises settlement across 20 European markets.
BlackRock adds to asset managers absorbing research costs.
Firms' ability to mine and utilize data will be mission-critical.
Asset managers find it difficult to quantify what has previously not been quantified.
AFME said more time is required to minimise disruption.