Settlement internaliser

Roles that need it

• Custody Operations Analyst
• Settlements Analyst
• Regulatory Change Analyst
• Regulatory Reporting Analyst

Skills it belongs to

• Settlement and fails management
• Prudential and regulatory reporting (COREP, FINREP, US call reports)

Related concepts

• CSDR (Central Securities Depositories Regulation)The Central Securities Depositories Regulation (CSDR), Regulation (EU) No 909/2014, sets EU rules for the authorisation and supervision of central securities depositories and for securities settlement. It requires book-entry form, harmonised settlement cycles and settlement discipline, and was amended by the CSDR Refit (2023/2845) and the T+1 regulation (2025/2075).
• CustodianA custodian is a financial institution, usually a bank, that holds securities and cash on behalf of clients, settles their trades and services the assets through corporate actions, income collection, tax relief and reporting. A global custodian covers many markets through its own branches or a network of sub-custodians.
• Settlement failA settlement fail is a transaction that does not settle on its intended settlement date, because securities or cash are missing or the instructions do not match. Under the Central Securities Depositories Regulation (CSDR), fails in EU CSDs trigger daily cash penalties and reporting, and may lead to a buy-in.

Sources

• Regulation (EU) No 909/2014 (CSDR), EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.