Post-Trade
Forum Debate: Is T2S Beneficial to the Market
& Investors?
European market structures
have been changing continuously for over a decade. Some changes have been forced by economic considerations, some through
opportunity and many because of political and regulatory enforcements. We are left with a complex and still changing market
structure, which is an on-going cost burden for financial services firms and investors. T2S is a major ECB project which is
central to reforming post-trade operations in participating countries, but what will be the benefits to brokers and their
clients/investors? What will be the costs and are there new risks that will be created as some old ones disappear?
Post Event Report
This ‘Post-Trade Forum'
(PTF) debate was kindly hosted by the London Stock Exchange (LSE) and sponsored by SWIFT. The panel of industry experts, most of which have played a major role
in getting the T2S project off the ground, were able to provided delegates with an update on the current state of play, on
what is seen by many, as a very important initiative for the financial services industry.
The keynote address was given by Goran Fors, Global
Head of GTS Banks, SEB, Sweden, who was able to give an insight into the general views of the Nordic community on the
benefits or not of joining T2S. He was ably supported by Helmut Wacket, Section Head, Target 2 Securities
Team, European Central Bank, Alan Cameron, Head of Client Segment - Broker Dealer &
Investment Banks, BNP Paribas, Justin Chapman, Senior Vice President, Global Head of Industry Management,
Northern Trust, Jan Lemeire, Director, Product Management, Euroclear Tom Morris, Head of Sales &
Relationship Management - Post Trade, LSEG and Russell Jones, Head of Securities Initiatives,
EMEA, SWIFT.
The debate
which was held under the ‘Chatham House Rule' was moderated by Gary Wright, CEO, B.I.S.S. Research, with delegates
coming from a cross-section of the market, with varied backgrounds covering many different areas of expertise.
This report is FREE
to employees of regulated financial services firms (such as Banks, Broker/Dealers,
Asset Managers etc) through membership of the Post-Trade Forum Group on LinkedIn. Please click here for link to join the group, if you are not already a member to obtain the report.
Existing members
of this group should have recieved notification via LinkedIn of the log in details to view or download this report.Please
click here to log in to obtain the report.
Alternatively the report is also available to buy
at a cost of £100. Click here to purchase
The report documents the issues discussed during the debate, which have been grouped for easy reading
and express the personal opinions of all participants. Areas covered during the debate included:
T2S Update
How vulnerable
is T2S to any changes politically, economically or financially in the Euro?
Harmonisation
CSDs
Investment Banks
Custody
Broker Dealers
CCPs
To join or not to join T2S
The UK
The Nordic case
How important to T2S is T+2?
How can we ensure
high STP rates throughout the process and what sort of investment will this require?
Is T2S vital as a driver for economic growth in Europe?
Is T2S
something domestic players can avoid?
What is the cost of T2S?
Will T2S be beneficial to the end investor?
Unbundling
We will we be in 2020?
Unintended consequences
Final thoughts on T2S
This report is FREE
to employees of regulated financial services firms (such as Banks, Broker/Dealers, Asset Managers etc) through
membership of the Post-Trade Forum Group on LinkedIn. Please click here for link to join the group, if you are not already a member to obtain the report.
Alternatively
the report is also available to buy at a cost of £100. Click here to purchase
