ART-83 · Wave 17 · Settlement Discipline · Buy-In Exposure

CSDR Refit Buy-In Exposure Modeler

Models last-resort mandatory buy-in exposure under CSDR Refit Reg. (EU) 2023/2845: extension period by asset class, buy-in cost mark-up, and cash-compensation alternative. Buy-in reform is pending delegated acts — outputs are planning estimates only. Part of the settlement-discipline-buyin chain.

Buy-In Reform — Delegated Acts Pending CSDR Refit Reg. (EU) 2023/2845 · 27 Nov 2023 CSDR Art 7 Framework (current)

⚠ PENDING DELEGATED ACTS: CSDR Refit mandatory buy-in provisions are adopted (27 Nov 2023) but suspended pending ESMA delegated acts (not yet in force as of Jun 2026). Outputs are modeled for planning purposes only. Verify current adoption status from ESMA/EC publications before relying on buy-in trigger dates.

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Global Parameters

GlobalBuy-in mark-up % (over ref price)

GlobalCash comp premium % (over ref price)

GlobalDelegated acts in force?

Fail 1

F1Asset class

F1Quantity

F1Reference price (per unit)

F1Days elapsed since T+0 fail

F1Currency

Fail 2

F2Asset class

F2Quantity

F2Reference price (per unit)

F2Days elapsed since T+0 fail

F2Currency

Fail 3

F3Asset class

F3Quantity

F3Reference price (per unit)

F3Days elapsed since T+0 fail

F3Currency

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Total Buy-In Exposure

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Cash Comp Alt.

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Buy-In Triggered

Total Fails

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Buy-In Eligible

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Pending Threshold

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Extension periods (calendar days approx.): Liquid equity 7 · Gov bond 12 · Other bond 12 · SME equity 22 · Illiquid 22 · Source: CSDR Refit Art 7 (Reg. 2023/2845) — verify business-day convention. Reform status: Delegated acts not yet in force (Jun 2026). Verify from ESMA/EC.

Fail breakdown

OpenChainGraph v0.4 artifact · execution_hash:

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