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Key trends & challenges
for European CSDs
Brussels, 4 March 2016
1st EPTF meeting
Soraya Belghazi
2
Changes in post trade
Regulation Technology
Competition
Market
demand
 strict prudential & risk
management standards
 ...
3
CSD landscape
CSD
 Resilience in recent crises
 Solid prudential framework
 Several interlinkages already
operating s...
ECSDA aisbl
Rond-Point Schuman 6, bte 9
1040 Brussels
BELGIUM
Ph. +32 2 230 99 01
info@ecsda.eu
www.ecsda.eu
Thank you
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Key trends and challenges for European CSDs

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This presentation was used to introduce a discussion on ongoing trends and challenges facing European CSDs at the first meeting of the European Post Trade Forum (EPTF) on 4 March 2016.

Published in: Economy & Finance
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Key trends and challenges for European CSDs

  1. 1. Key trends & challenges for European CSDs Brussels, 4 March 2016 1st EPTF meeting Soraya Belghazi
  2. 2. 2 Changes in post trade Regulation Technology Competition Market demand  strict prudential & risk management standards  high focus on compliance (level 2 implementation)  restrictions on CSD services  intra-EU & globally  among FMIs  with intermediaries  disruptive technologies  new FinTech players  cyber threats  cross-border services  collateral optimisation  choice of segregation, transparency of holdings
  3. 3. 3 CSD landscape CSD  Resilience in recent crises  Solid prudential framework  Several interlinkages already operating successfully  Access to central bank money, esp. within euro-area (T2S) & role in monetary policy  Potential for expansion into new EU markets  Consolidation, partnerships... to reap economies of scale  Technological innovation  New market demands (e.g. collateral optimisation)  Several small CSDs will find it hard to comply with CSDR & remain competitive  Recovery & resolution: rules still to be harmonised  Restrictions on access to commercial bank money  Global competition  New regulatory restrictions (e.g. AIFMD segregation)  New entrants & internalisation  New Fintech players, DLTs  Cyber risk Strengths Weaknesses Opportunities Threats
  4. 4. ECSDA aisbl Rond-Point Schuman 6, bte 9 1040 Brussels BELGIUM Ph. +32 2 230 99 01 info@ecsda.eu www.ecsda.eu Thank you

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