DIGITAL TRANSFORMATION in Securities Finance
The year 2020 has been governed heavily by themes of isolation and turbulence. But not all has been lost. For the financial services industry, these conditions have catalysed innovation and have fast-tracked the inevitable – a fundamental digital transformation. Banks have already recognized their systemic destinies and have moved swiftly to adapt their digital roadmaps—including systems and processes to assets themselves.
Industry associations including ISLA, ICMA and ISDA have “urgently” called for technology innovation, process standardization and digitization of documents and data. The Common Domain Model championed by ISDA for derivatives data has been touted as a solution for data collation challenges presented by SFTR. ISLA has kicked off a Digital Working Group, and RMA a Fintech & Automation Committee. Digital transformation is underway.
- Where is the securities finance industry on its way to digital transformation?
- What is at stake if the transition isn’t quick enough?
- What would a fully digital industry look like?
- What are the benchmarks along the way?
Pierpoint Financial Consulting
Roy Zimmerhansl is Practice Lead at Pierpoint Financial Consulting, a boutique securities finance consultancy. Roy is a recognised expert with many decades’ experience in securities finance and collateral management with a strong banking background. The Pierpoint Perspectives podcast which he hosts, provides insights into this key, but hidden part of the financial markets. He is currently advising two start-up firms, one in ethical finance, another using Distributed Ledger Technology to improve the investment process in the alternative space and has recently been appointed to the Equities Product Committee for the Nigerian Stock Exchange.
He possesses a unique holistic business perspective gained through senior roles at commercial and investment banks, prime brokers, proprietary trading firms; as well as expressing more entrepreneurial flair launching a trading platform for an interdealer broker, acting as product advisor to a fintech firm and as a consultant for change to banks. Communication is key to all Roy does and he has honed his skills as an editor of two trade journals; through chairing/participation in industry conferences in North America, Europe, and Asia; and as the co-author of white papers on the topics of Central Counterparties in Securities Finance and ETF Liquidity and Securities Finance.
Roy has been a board member of industry associations in Europe and Asia, been a member of the Bank of England Securities Lending and Repo Committee and acted as an expert witness in legal cases in the UK and the US. He has been the fortunate recipient of Lifetime Achievement Awards from both Global Investor Magazine and Global Custodian Magazine.
Ken DeGiglio is the chief information officer of EquiLend and a member of the firm’s executive team. As CIO, he is responsible for aligning EquiLend’s technology vision with business strategy; integrating company processes with the appropriate technologies; and developing and implementing technology initiatives within the organization. He manages a senior team of IT professionals and works closely with product owners and other internal stakeholders. DeGiglio’s career in financial technology spans over 30 years at firms including TD Ameritrade, Morgan Stanley, Robertson Stephens and J.P. Morgan; he also was a founder of Renaissance Trading Technologies. He has a bachelor’s degree with high honors in computer science, systems planning and management from the Stevens Institute of Technology.
David Shone has a decade of experience in delivering strategic technology deliveries, to support new business initiatives, and new regulatory obligations.
David recently moved to ISLA as a contracted consultant to drive and contribute to their Digital Agenda and CDM development.
Prior to that he was employed by State Street to set-up their Operating Model for an Equity Swaps business, and subsequently designed State Street GM’s SFTR Operating Model globally.
Asset class experience includes Equity Derivatives, Interest Rate Derivatives, FX and Securities Lending, with UBS, Barclays Capital and State Street.
Guido Stroemer is a financial market veteran with over 30 years of professional work experience in a variety of trading, risk management and senior leadership positions. Prior to founding HQLAX, Guido was global head of repo trading at UBS.
Digital Transformation in Securities Finance
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