Cat-23 · T372 · Capital Markets Settlement
v1.0 CSDR Art.7 RTS 2018/1229 Zero PII Client-Side

Buy-In Scope Classifier & Cost vs. Penalty Estimator

Under CSDR mandatory settlement discipline, failed trades incur daily cash penalties and may trigger a mandatory buy-in. This tool classifies whether your instrument is in buy-in scope, calculates the trigger date, models cumulative penalty accrual, estimates buy-in execution cost, and recommends whether to accept the penalty or execute the buy-in — with break-even day analysis.

⚠ Outputs are deterministic estimates based on CSDR Art.7 and RTS 2018/1229 reference data. Buy-in trigger day counts, penalty rates, and cost estimates are indicative. Verify against CCP/CSD rules, your custodian, and current regulatory guidance before taking action. See CSDR Refit (Reg. (EU) 2023/2845) for the Oct 2025 RTS amendments.

🔒 All inputs are processed locally in your browser. No data is transmitted. Do not enter real personal data — use synthetic or anonymised inputs only.

Panel 01 Instrument Details
Buy-in trigger: 4 business days after intended settlement date [CSDR Art.7(3)(a)]
Mid-market price per unit in EUR
Number of units that failed to settle
Business days elapsed since intended settlement date (ISD)
— enter price & qty
Price × Quantity (auto-calculated)
Panel 02 Buy-In Parameters
Default auto-filled by instrument type. Adjust to reflect actual market conditions.
Typical range: 5–10 bp. Includes agency execution markup.
Affects spread multiplier applied to bid-offer in buy-in cost estimate
Indicates market depth and sourcing risk for buy-in agent
Buy-In Trigger Status MONITORING
Recommendation
Cost Breakdown
Daily Penalty Accrual vs. Buy-In Cost (€)
Cumulative penalty accrual
Buy-in execution cost (fixed)
Regulatory Citations
  • [1]CSDR Art.7 — Settlement discipline, mandatory buy-in regime. Regulation (EU) No 909/2014 of the European Parliament and of the Council on improving securities settlement in the European Union.
  • [2]Commission Delegated Regulation (EU) 2018/1229 — RTS specifying the details of the buy-in process by instrument class and the daily cash penalty rates for settlement fails.
  • [3]ESMA RTS Amendments Oct 2025 — Updated settlement discipline rules under CSDR Refit (Regulation (EU) 2023/2845). Revised buy-in framework with extended suspension provisions and modified penalty regime.
  • [4]ICMA CSDR Settlement Discipline Guidance — Practical guidance on buy-in mechanics, cash compensation, and penalty collection published by the International Capital Market Association.
  • [5]UK Onshored CSDR — The Central Securities Depositories Regulations 2017 (SI 2017/1064), as amended by the Financial Services Act 2021. Equivalent buy-in provisions applicable to UK-settled instruments post-Brexit.