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Welcome to Global Custodian ’ s dedicated Sibos digital magazine
This digital edition of Global Custodian has been created for attendees of Sibos 2023 in Toronto , filled with relevant content relating to panels and discussion topics during the event .
Welcome to Toronto ! We are delighted to be bringing you this dedicated digital magazine , filled with relevant content for this year ’ s event which comes at a exciting / challenging / transitional time for securities services around the world . The shortening of settlement times has become a global issue as multiple markets consider a reduction in line with the US and what appears to be a shift worldwide , in addition to the fact that foreign participants are having to adapt to these changes in North America , navigating a gauntlet of challenges around FX , pre-funding , securities lending and beyond . With less than nine months to go until the transition , the pressure is ramping up , as is the depth of the questions and concerns . Global Custodian has partnered with The ValueExchange to create the T + 1 Industry Issues forum , logging these specific queries which our partners on the project – Broadridge , CLS , EquiLend and Saphyre , along with Citi – are helping to answer . You can see the responses thus far in our dedicated T + 1 handbook , or by tuning into our regular webinars , as we continue to drill down into the individual problems than firms are tackling . In addition to widespread settlement talk , the other buzzword of Sibos 2023 will likely be tokenisation , the stand-in darling of the digital asset world as cryptocurrencies and Bitcoin are all-but sidelined from conversations pending regulatory clarity and the conclusion of ongoing sagas . Interesting , while being a fashionable topic , we still seem to be five-plus years away ( potentially ) from seeing this future become a reality . What should be headlining discussions this year – if not on the main stages , then certainly behind the scenes – is blockchain interoperability as the industry looks to avoid falling into the pitfalls of siloed projects and missing a key opportunity to accelerate innovation . Our roundtable discussion on page 20 goes into great detail on how the Canton Network from Digital Asset is enabling this interoperability across the industry – with a particular focus in that article on securities finance . Elsewhere during the event there is a healthy sprinkling of discussion around cloud , data and ISO 20022 as this year ’ s Sibos gives plenty of attention to securities . Our own issue here discusses T + 1 in great detail through two separate articles – one digging into FX specifically – while we also reveal a sneak preview of the results from our annual flagship Agent Banks in Major Markets survey . Our team will be on-the-ground in Toronto so do come and say hello ! We ’ ll also be bringing you all the latest news from the event , along with a daily wrap-up videos which you can find on our website .
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Jonathan Watkins Managing Editor Global Custodian
Sibos Special 2023 globalcustodian . com 3