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Upcoming priorities for EU securities post-trading (integration, harmonisation, digitalisation…)

Day 3 Morning

Friday 13 September

Room :

Fennia I - Roundtable

Speakers

Chair
Morten Bech - Head of Secretariat, CPMI, BIS
Public Authorities
Jochen Metzger - Director General, Payments and Settlement Systems, Deutsche Bundesbank
Jean-Paul Servais - Chairman, Belgian FSMA
Anamarija Staničić - Head of Regulatory Harmonisation and International Cooperation Division, Croatian FSA
Industry Representatives
Gesa Benda - Head of Collateral Management Product, BNY Mellon
Eric Derobert - Group Head of Communications & Public Affairs, Caceis
Guillaume Eliet - Head of Regulatory, Compliance & Public Affairs, Euroclear S.A.

Objectives of the session

This session will assess the progress made in terms of efficiency and integration in securities post-trading markets following the implementation of EU post-trading regulations and TARGET2-Securities (T2S) and what further policy measures may be needed in the post-trading space to support the objectives of the CMU. The panel will also discuss the impact that can be expected from new technologies such as DLT, machine learning and cloud services on post-trading activities and how the use of these technologies may be optimised in this space.

In terms of scope, the session will focus on securities transaction settlement, custody and asset servicing activities in the EU.

Points of discussion

Has significant progress been made in the EU post-trading area over the last 5 years in terms of efficiency and integration with the implementation of EU post-trading regulations and T2S? What are the priorities ahead to make EU post-trading fit for supporting the CMU? Should EU policy-makers and regulators focus mainly on the implementation of on-going initiatives or should some new policy or market-led initiatives be launched e.g. following the EPTF report? What can be expected from ECB initiatives such as ECMS and EDDI?

Can major impacts and changes be expected from the use of new technologies (e.g. DLT, cloud services, machine learning, AI…) in the post-trading area in the coming 5 years? What value can these technologies potentially add to existing systems in different areas of post-trading (e.g. settlement, custody, asset servicing…) and which technologies are likely to have the most impact on post-trading? Is there any prospect of improving their scalability and reliability sufficiently for them to be used for core post-trade processes in the short or medium term?