EDDI: harmonisation or fragmentation?

By Burhan Khadbai
24 Oct 2019

One of the main aims of the European Distribution of Debt Instruments Initiative (EDDI) is to achieve greater harmonisation across eurozone bond markets. But if there is no incentive to use it, EDDI will become just another platform.

EDDI has been marketed as a one-stop shop for the euro bond market, handling everything from bookbuilding to settlement.

What EDDI aims to achieve in the settlement of bonds, by having central securities depositories distributing bonds via the European Central Bank’s Target–2 securities settlement infrastructure, is unequivocally innovative .

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