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What does Cecabank bring to the Securities Services market in Spain?
At Cecabank the customer is key. Our value proposition is based on the
customer. This value comes to reality through several characteristics that
define us:
Independence: we serve our customers and avoid any possibility of a
conflict of interest with them - quite simply, we do not compete with them.
An enormous capacity to adapt to change, to respond quickly to an in-
creasingly demanding environment.
Flexibility to attend to the different needs of all our different customers
(IIC and pension fund managers, or securities companies).
Efficiency, seen as an advantage we can directly pass on to our custom-
ers through our extraordinarily competitive services.
Specialisation, because we know how to do what we specialise in very
well, focusing our efforts on services to which we can bring a vast amount
of added value.
All these skills have one thing in common: the experience and knowledge of
our teams and the professionals who form them. They allow us to always be
at the cutting-edge of the Securities Services market in Spain.
How did Spain’s move to Target 2 Securities affect Cecabank’s services?
Spain’s move to Target 2 Securities coincides in date with the culmination of
the Clearing, Settlement and Registry System Reform of the stock market, with
the implementation of Phase II related to major changes to Fixed Income.
Just as happened with phase I of the Reform, when changes to the market
opened up new opportunities for Cecabank such as being a General Clea-
ring Member, and with that the creation of new services for new customers,
Spain’s move to Target 2 Securities will also bring us new opportunities.
At Cecabank we believe that after these significant changes, our presence in
Spain will be more vital than ever - as a company which will bear the costs of
the adjustment and accompany other entities in this new market.
In this sense, Cecabank is a trusted partner, capable of accompanying banks,
insurance companies, fund managers, and share companies along the way,
with trust, security, and efficiency.
What challenge do Cecabank’s Securities Services face in the future?
Cecabank Securities Services’ fundamental challenge is to consolidate our
leading position. What do you mean by that? It means that we have taken
a route with responsibility attached, taking on a role obliging us to continue
growing, providing services to new clients, improving more every day in the
services we provide, and continue passing on our efficiency to the market,
making it easier for our clients in turn to strengthen their competitive position
in their respective markets.
In short, our goal is to accompany our customers so we can grow together.
Interview
“Spain’s move to Target 2
Securities also offers us
new opportunities”
Joaquín Rivero
Securities Services
Cecabank 2016 Annual Report Page 65
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