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

23 November 2018

The Palacio de la Bolsa de Madrid was chosen to hold a new edition of the Securities Services Conference organised by 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 Fifth Conference brought together securities companies, managers of CIIs and pension funds, private equity companies and banks.Those attending shared opinions on issues such as the present and future of securities market regulations, T2S (Target-2 Securities) and pan-European financial infrastructures. Over 300 attendees from 230 institutions discussed the coexistence of fintech, ESIS, custodians and other market agents. All under the umbrella of the impact of industry digitisation and regulatory pressure.

Those attending the event organised by Cecabank believe it has become the industry's leading forum. It allows people to share post-trading experiences that would not usually be the main focus of company meetings.

The impact of digitisation

In opening the event, Cecabank's CEO, José María Méndez, highlighted the consolidation of this conference as a benchmark event in Spanish post-trade and negotiation processes. 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, the Assistant Managing Director of Financial Innovation and Market Infrastructures at the Bank of Spain, closed the event. He emphasised that, "in coming years, the Spanish post-trading sector will face significant challenges. Many of these will be related to digitisation and there will be new projects derived from pan-European infrastructures. Considering the progress of the sector in recent years, I believe that we have an excellent basis upon which to address those challenges confidently”.

The challenge of digital transformation

With the impetus of these conferences, Cecabank has managed to consolidate its position as a trusted authority Not just within the banking sector, but also for large corporations. It has consolidated its position as the main promoter of the ecosystem that structures the Spanish post-trading industry.

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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