81 / 115
P.
81
Cecabank Report 2018
Our business model
The Securities Services business focused on boosting innovation with
operational and regulatory changes and new technologies that make
processes more efficient and suited to the clients' needs. Custodians and
depositaries must face a new reality and undertake a digital transformation
process aimed at increasing transparency before employees, suppliers
and clients and adapting their new products to the new needs and at a
lower possible cost. Given the relevance, Cecabank continues involved in
a significant process of
digital transformation of its Securities Services
business
, with the aim of strengthening its value chain, profiting from the
opportunities presented in the new environment.
This year Cecabank organised for the fifth consecutive year the
Securities
Services Conference
"The impact of digitisation and regulation on post-
trading", establishing itself one year more as the main Spanish post-trade
forum. The event was attended by securities brokers, CII and pension
fund management companies, private equity companies and banks, which
shared their impressions on current topics, such as the present and future
of the securities market regulations, of T2S (Target-2 Securities) and of
the Paneuropean financial infrastructures. More than 300 attendees from
230 institutions debated the coexistence of fintechs, ISCs, depositaries and
other market agents, under the impact of the industry's digitisation and
regulatory pressure.
With regard to the most innovative Securities Services initiatives:
•
The Comprehensive securities solution consolidated itself in 2018, a
new service that meets the requirements established by the MiFID II for
the marketing of assets on the internet and that affects the processes
of arranging and executing transactions in the market, the training of
professionals and the tools that are used to communicate with clients.
In 2019 the effort will focus on expanding the client base, with special
emphasis on ESIS and management companies. The
Funds Platform
has
been redesigned, achieving a strategic partnership with the main platform
for market funds..
•
With regard to the
FADO Project
(based on the opening of the branch in
Portugal), the Branch was finally registered in the CMVM in January and
formally communicated the commencement of its activity on 1 September
2018. It is expected to start being the depositary of the first funds in the
first quarter of 2019.
As well as developing initiatives directly linked to the business, the
Robotics
project
has also been developed, which involves deploying a network of
automated processes using advanced technology. Automation actions have
been implemented in different processes in all the business units achieving
significant economies of scale and operational efficiencies that have led to
improving the quality of the service provided to clients. At the end of 2018,
19 processes were supported by 21 virtual machines and 150 robots were
fully operational.
Boost in innovation
•
Operational changes
•
Regulatory changes
•
New technologies
5th Securities Services Conference
+300
attendees
+230
institutions
The entity is deploying a network
of automated processes, the
Robotics Project
4 | 4.2