New Celent Report Forecasts Major Change Across the Global Post-Trade Landscape
(Thomson Reuters ONE) -
* Regulation and market initiatives will "fundamentally alter" Europe's post-
trade industry
* Post-trade space set to become far more competitive, with Europe leading the
way via interoperability and T2S
* CCPs will continue to evolve horizontally, supporting new asset classes and
moving into new markets
* Environment will drive major tech investment, including increased adoption
of third party off-the-shelf products
BOSTON and NEW YORK, Oct. 21, 2015 (GLOBE NEWSWIRE) -- Celent has announced the
launch of a new report into the global post-trade industry, commissioned by
Nasdaq (Nasdaq:NDAQ). Based on an examination of 12 key markets(1) and detailed
discussions with 17 major industry participants, it analyzes trends and
challenges affecting central counterparties (CCPs) and central securities
depositories (CSDs), and predicts future developments(2).
The report finds that the changing regulatory environment is the dominant force
affecting post-trade industry players, thanks to a post-crash focus on managing
systemic risk. Market infrastructure initiatives - such as the worldwide focus
on shortening settlement cycles - are also making a big difference. Initiatives
from European authorities, such as interoperability, T2S and CSDR, will
"fundamentally alter" Europe's post-trade landscape, forging a more competitive
one. Other markets, however, are expected to introduce greater competition by
allowing international players to compete with domestic incumbents.
"At times there is a lack of clarity and co-ordination among regulators in
different jurisdictions," said Arin Ray, Analyst at Celent and co-author of the
report. "This results in a lack of synchronization and standardization of some
of the key regulations, making the task of responding to these changes more
difficult."
The research also finds that CCPs are adapting through horizontal integration,
evolving to support new asset classes and move into new markets (see table in
end notes), as well as new services around collateral management and
optimization. CSDs are also developing new services, particularly in Europe
where an inability to do so may threaten survival in a post-T2S environment.
These changes are driving major investment in technology, and the research
predicts increased adoption of third-party off-the-shelf products.
Dr. Anshuman Jaswal, analyst at Celent and co-author of the report, added, "The
relevance of third party systems is rising as they allow CCPs and CSDs to meet
their IT requirements more quickly and cheaply - particularly for tier 2 and 3
players who lack the wherewithal to build in-house capabilities."
"Regulation is reshaping the demands for post-trade," said Lars Ottersgård,
Executive Vice President, Market Technology, Nasdaq. "In some cases, post-trade
entities play a different and perhaps more important role in the global
financial ecosystem - and with this comes great responsibility. In this new
world, everyone needs to be far more efficient with their use of capital, and
CCPs and CSDs will be critical in helping the wider system achieve this. This is
why increased competition is welcome and, indeed, vital, as it is driving the
required innovation and investment in technology."
Notes to editors
(1)The US, UK, Germany, Czech Republic, Japan, Australia, Hong Kong, China,
India, Brazil, Mexico, and Chile
(2)Post-Trade Players Are Taking Several Measures to Counter Challenges
-------------------------------------------------------------------------------
INITIATIVES DESCRIPTION
-------------------------------------------------------------------------------
While emerging players focus on
developing support for traditional asset
classes that they previously lacked,
leading players are focusing on OTC
CCPs developing support for new central clearing, commodity derivatives,
products RMB related instruments.
-------------------------------------------------------------------------------
Demand for superior capital efficiency is
forcing CCPs to bolster offerings around
collateral management and optimization,
CCPs and CSDs looking to offer new cross margining among products and across
services asset classes.
European CSDs are developing new
offerings around asset servicing and
collateral management as they prepare for
the post T2S world. Emerging market CSDs
are moving into e-services such as e-
governance, national number
identification database, KYC services,
legal entity identifiers, etc.
-------------------------------------------------------------------------------
Saturated domestic markets and relatively
superior growth prospects of the emerging
Global players looking for market economies are forcing leading players to
expansion expand into new regions and markets.
-------------------------------------------------------------------------------
Regulatory and market changes are
providing a strong incentive for
upgrading technology and processes for
most CCPs and CSDs as they look to stay
abreast with rapid evolution of trading
Improving operational efficiency technology and look to cater to wider
through modernization international clients
-------------------------------------------------------------------------------
Move away from end of day monitoring
towards intraday and real-time risk
management , portfolio margining, and
account segregation to ensure investor
Enhancements in risk management and protection are becoming important
investor protection features for several market participants
-------------------------------------------------------------------------------
Source: Celent
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange
technology, listing, information and public company services across six
continents. Through its diverse portfolio of solutions, Nasdaq enables customers
to plan, optimize and execute their business vision with confidence, using
proven technologies that provide transparency and insight for navigating today's
global capital markets. As the creator of the world's first electronic stock
market, its technology powers more than 70 marketplaces in 50 countries, and 1
in 10 of the world's securities transactions. Nasdaq is home to more than 3,600
listed companies with a market value of approximately $9.6 trillion and more
than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or
business.nasdaq.com.
About Celent
Celent is a research and advisory firm dedicated to helping financial
institutions formulate comprehensive business and technology strategies. Celent
publishes reports identifying trends and best practices in financial services
technology and conducts consulting engagements for financial institutions
looking to use technology to enhance existing business processes or launch new
business strategies. With a team of internationally experienced analysts, Celent
is uniquely positioned to offer strategic advice and market insights on a global
basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh &
McLennan Companies (NYSE:MMC).
NDAQG
CONTACT: Media Contacts
For Nasdaq: Ryan Wells (ryan.wells(at)nasdaq.com or +44 (0) 7809 596 390)
For Celent: Tylor Tourville (ttourville(at)celent.com or +1 617 424 3284)
This announcement is distributed by GlobeNewswire on behalf of
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
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Unternehmensinformation / Kurzprofil:
Datum: 21.10.2015 - 17:26 Uhr
Sprache: Deutsch
News-ID 428571
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