Updated 11/05/2025

Metadata

In force since 11/06/1998

Version from: 08/04/2024

Level 2 legal acts in relation to SFD

There are currently no Level 2 legal acts based on or specifying the SFD.

Legislative procedure

Procedure 1996/0126/COD

SFD Tool Settlement Finality Directive (SFD)

Settlement Finality Directive (SFD)

Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems

SECTION I - SCOPE AND DEFINITIONS (Article 1-2)Article 1 Article 2 Q&A

SECTION II - NETTING AND TRANSFER ORDERS (Article 3-5)Article 3 Article 4 Article 5

SECTION III - PROVISIONS CONCERNING INSOLVENCY PROCEEDINGS (Article 6-8)Article 6 Article 7 Article 8

SECTION IV - INSULATION OF THE RIGHTS OF HOLDERS OF COLLATERAL SECURITY FROM THE EFFECTS OF THE INSOLVENCY OF THE PROVIDER (Article 9)Article 9

SECTION V - FINAL PROVISIONS (Article 10-14)Article 10 Article 10a Article 11 Article 12 Article 12a Article 13 Article 14