[ R O U N D T A B L E | S E C U R I T I E S F I N A N C E ]
“ I don ' t think I ' ve ever been more optimistic about the way forward than where we are right now .”
KEN DEGIGLIO , CIO , EQUILEND
“ This is kind of the watershed moment , not to be too dramatic , but what the panellists are talking about is transformation . It is the beginning of the next plateau for the generation of these types of services .”
KELLY MATHIESON , CHIEF BUSINESS DEVELOPMENT OFFICER , DIGITAL ASSET provided today . “ In the current workflow within securities lending there are a lot of manual components and if those have reconciliation breaks then it leads to more manual processes . So that part of the business is just screaming for tech efficiency and it ' s something that we believe that DLT can help usher in . “ The key is to seize the moment and not look at these opportunities and changes as challenges , but as an opportunity to replatform the industry to streamline and re-engineer the process front-to-back .” This is all against a backdrop of regulation and a major market structure change in the shift to T + 1 in major markets and – perhaps to a lesser extent - the arrival of new platforms and a ( re ) introduction of clearing securities finance transactions . Either way , the arrival of new technologies has been warmly welcomed by a space crying out for efficiencies , increased liquidity and innovation . “ From where we sit in the distributed ledger space , we are trying to bring a lot of operational efficiencies into a clunky , cumbersome settlement environment . I think this technology provides opportunities around - not new concepts - but maybe those which have been challenging in the past , such as intraday repo and settling trades outside of the standard settlement window , things of that nature ,” explained Chiappetta . On the hot topic of impending settlement reduction times , Mathieson added : “ The challenge from T2 to T1 isn ' t just about throwing more resources at the problem , it ’ s a mindset shift in the marketplace on how you think about preor post-trade . We ' ve been eking out the last bit of straight through processing over the course of the last two decades , albeit slightly faster , but with the expectation that the trade might fail . You have to go
22 Global Custodian Sibos Special 2023