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The gifts that keep on giving
This issue is full of familiar topics with new angles .
It ’ s that time of year where we all take stock of what ’ s being talked about at the many , many industry events taking place throughout Fall – and for us here at Global Custodian , it ’ s piece together a magazine based on what ’ s hot and leave out what ’ s not . For many , July and August are slower months and upon returning in September we really get to see what the agenda is for the rest of the year and beyond . Perhaps unsurprisingly for the securities services industry , nothing particularly new has arisen thematically – it ’ s still settlement cycles , technology and regulation as the headliners with data , private markets and some regional focuses as the supporting act . But under these umbrella themes are seeing some interesting sub-topics . Starting with our old friend T + 1 , the conversation has now moved on from North America with the focus now on who ’ s next . Europe , the UK , Australia , Singapore ? Place your bets now , because the answer still isn ’ t clear . In this issue we look at who might be – and who should be next – as we wonder what the impacts of settlement cycle fragmentation might be on the global markets . And speaking of themes which aren ’ t new , allow me to introduce the Capital Markets Union ( CMU ), borrowing timeliness characteristics from its European counterpart T2S , the initiative has rumbled on for over a decade now with little to show for it outside of criticism and in-fighting . Now on its third iteration , the stakes are high as Europe looks to make itself more competitive as a single unit on the global stage at a critical juncture . In this issue we look at what to expect from this endeavour which has been thrust back into the spotlight . Elsewhere , fitting with the headline of ‘ gifts that keep on giving ’, we can ’ t talk enough about Asia at the moment , which is timely given this year ’ s Sibos takes place in Beijing this October . In our latest deep dive , we follow up on our recent feature on how ‘ Asia ’ s momentum points to golden age for asset servicers ’ by further exploring the key drivers of growth , the rise of digital assets , regulatory complexity and the future of custody in Asia Pacific . Don ’ t be put off delving into this issue by the ‘ nothing new to see here ’ analysis – the bottom line is that grappling with settlement reduction , assessing new technologies and planning for a tokenised / digital future is taking up all the securities services industry ’ s attention and focus right now . The important thing is that these topics are all tailwinds for an industry looking to evolve to be faster and more efficient , acknowledging that if you are standing still , then you are essentially moving backwards .
Global Custodian is owned and produced by Tungsten Publishing Ltd . © Tungsten Publishing 2024 . No part of this publication may be reproduced , in whole or in part , without written permission from the publisher . ISSN 1047-8736
Jonathan Watkins Managing Editor Global Custodian
Fall 2024 globalcustodian . com 3