Experts debate the impact of digitisation and regulation in post-trading

23 November 2018

The Palace of the Madrid Stock Exchange went picked to celebrate a new edition of the Meeting of Securities Services that organises Cecabank . On this occasion, the impact of digitisation and regulation on the post-trading sector was analysed. For five years, Cecabank has been bringing together industry professionals to discuss and reflect on operational and regulatory changes that impact on the business.

This V Meeting gathered to Stock Exchange Dealers, managers of IICs and of pension funds. Additionally to companies deprive you equity and banks. They shared impressions on topics as the standard present and future of the share market. Of T2S (target-2 Securities) and panEuropean financial infrastructures. More than 300 attendees of 230 institutions debated on the coexistence of fintech, ESIS, guards and other agents of the market. All bass the umbrella of the digitisation's impact of the industry and regulatory pressure.

In the opinion of the participants, the event organised by Cecabank is had become the forum of reference of the sector. It allows sharing experiences of the activity of post-trading that we does not usually be the star of the companies' meetings.

The impact of digitisation

In the opening, the Managing Director of Cecabank, José María Méndez, emphasised the consolidation of this meeting as an event of reference in negotiation processes and post-trade Spanish. Cecabank organised this conference for the fifth consecutive year due to the impact of digitisation and regulatory pressure on fintech, ESIS, custodians and market agents. It was intended for a broad range of experts, including Directors of Administration and Operations and Heads of Regulatory Compliance, Legal Affairs, Internal Control and Accounting. In addition, personnel from the operational and control areas of CII management companies and pension fund management companies also attended. There were also insurance companies, managers of closed-end type collective investment undertakings, securities companies and agencies, depository companies, securities service financial institutions and financial advisory companies.

Talks given by those attending

José María Méndez said, "from the outset, Cecabank has been committed to the digital transformation of our Securities Services business. We believe that it is essential to be able to adapt to the current environment in the best way possible by offering the best value-added services to our customers. Digitisation is already part of our daily lives. It is and will be one of the most important challenges facing the financial sector. That's why it is necessary to give it the attention it deserves".

Sebastián Albella, Chairman of the CNMV, also participated in the event and highlighted "The important role of depositaries in Spain, especially in crisis scenarios". The Chairman of the CNMV announced regulatory changes aimed at strengthening the depositary's role, especially with regard to liquidity. Albella pointed out that "one of the main challenges of digitisation in the post-trade world is that, in an environment of growing competition, it can lead to the consolidation of contracting infrastructures".

Carlos Conesa, Financial Innovation Assistant Managing Director and Banco de España's Market infrastructures, closed the act. It underlined that “in the next few years the Spanish sector of post-trading will confront significant challenges. Many ones related to the digitisation and with new projects derived from the panEuropean infrastructures. Taking into account the evolution of the sector in recent years, believe that we have an excellent base to face those challenges with confidence”.

The challenge of digital transformation

With the boost of these meeting, Cecabank has achieved consolidate its position as a reliable performance benchmark. Not only of the banking sector but also of big corporations. Is consolidated as principal developer of the ecosystem that structure the industry of the post-trading Spanish.

The company's Securities Services business is experiencing a digital transformation. Digitisation is one of the areas that most affects financial institutions' strategies now. In view of this situation, Cecabank has chosen to strengthen its value chain so it can take advantage of the opportunities offered by this new environment. Javier Planelles, Director of the Operational Services Area, spoke during the conference. "As a wholesale bank that specialises in providing Securities Services, Treasury management, Payments and Digital Solutions, Cecabank is in an ideal position to contribute to adapting the financial sector to this new reality".


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