This document summarizes the agenda and discussions of the Clearing & Settlement Working Group (CAS-WG). The CAS-WG is focused on interpreting regulatory changes related to clearing and settlement infrastructures in Europe. It has three subject groups focused on regulations, market infrastructure, and technology standards. The agenda included updates from each subject group, a presentation on progress of the Target2-Securities system, and a discussion on the future of clearing in Europe given recent announcements around the banking union and EMIR regulations. The document provides details on the discussions and presentations within the CAS-WG meeting.
Trading has changed from local to global and so have the processes from paper to Online. The result is change in process from T+3 to T+1 and real time trading and settlement of a trade.
تواصل_تطوير
المحاضرة رقم 189
المهندس / محمد العربي
بعنوان
"Digital Disruption Act- From
Value Chains to Value Networks"
يوم السبت 07 يناير 2023
السابعة مساء توقيت القاهرة
الثامنة مساء توقيت مكة المكرمة
و الحضور عبر تطبيق زووم من خلال الرابط
https://us02web.zoom.us/meeting/register/tZIvf-6oqTgsH9Dp3m-SA9-UvVdmBgjmwEYx
علما ان هناك بث مباشر للمحاضرة على القنوات الخاصة بجمعية المهندسين المصريين
ونأمل أن نوفق في تقديم ما ينفع المهندس ومهمة الهندسة في عالمنا العربي
والله الموفق
للتواصل مع إدارة المبادرة عبر قناة التليجرام
https://t.me/EEAKSA
ومتابعة المبادرة والبث المباشر عبر نوافذنا المختلفة
رابط اللينكدان والمكتبة الالكترونية
https://www.linkedin.com/company/eeaksa-egyptian-engineers-association/
رابط قناة التويتر
https://twitter.com/eeaksa
رابط قناة الفيسبوك
https://www.facebook.com/EEAKSA
رابط قناة اليوتيوب
https://www.youtube.com/user/EEAchannal
رابط التسجيل العام للمحاضرات
https://forms.gle/vVmw7L187tiATRPw9
ملحوظة : توجد شهادات حضور مجانية لمن يسجل فى رابط التقيم اخر المحاضرة.
The Facility, together with its partners FSDA and AFD, organized a webinar on "Making change happen within insurers".
In this webinar, we highlighted the change management activities of two partners - AXA Mansard (Nigeria) and SUNU Assurances (Cote D'Ivoire). It also outlined FSDA and ILO's change management framework and step-by-step process.
The presenters discussed activities, results and lessons that will be helpful to other organizations that wish to go through a similar change process.
Presenters: Omosolape Odeniyi (AXA Mansard), Gildas N'Zouba (SUNU Assurances) and Paul Musoke (FSDA). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).
Agile E Business Valtech Agile Edge London March 2010 Al GoernerValtech UK
Agile Methods for Ebusiness keynote from Valtech\'s Al Goerner. London March 2nd 2010.
Whether B2C or B2B, web business applications are increasingly complex & significant investments - with ever greater payoffis it has never been more imoprtant to examine methods for software development that foster
- innovation for market differentiation
- responsiveness for timeliness & change-tolerance
- discipline for quality & reproducibility.
This presentation explores the differences in culture between the creative marketing and detail oriented technology worlds.
For more see www.valtech.co.uk.
Benefits Management presentation by Viren Lall, Head of Business Transformation for BT Global Services and Secretary of the APM Benefits Management SIG
Impact 2013: How Technology is used for real-time monitoring of Dodd-Frank Tr...jKool
Presentation delivered at IBM IMPACT 2013
Dodd-Frank Trade Reporting regulations were enacted to ensure improved transparency and accountability for trade execution and reporting. However, there are key challenges such as: how do swap dealers ensure compliance and how can this be done in real-time as the windows for course correction are small.
-Real-time trade surveillance across the lifecycle of a reportable trade
- NACK Management
- How to provide visibility in real-time to actual or potential breaches in responsibility with the flexibility to change as the regulation evolves
- See the video at: http://www.nastel.com/dodd-frank-webinar.html
The July 2015 Insight newsletter, discussing the changing regulatory landscape and including a conversation with Matthew Lynes, Senior Investment Manager at Aberdeen Asset Management
Conversation with Matthew Lynes, Aberdeen Asset Management. Buy-Side System Requirements - Whitepaper by Quantifi and OTC Partners. The Cost of Collateral - Webinar Survey.
Trading has changed from local to global and so have the processes from paper to Online. The result is change in process from T+3 to T+1 and real time trading and settlement of a trade.
تواصل_تطوير
المحاضرة رقم 189
المهندس / محمد العربي
بعنوان
"Digital Disruption Act- From
Value Chains to Value Networks"
يوم السبت 07 يناير 2023
السابعة مساء توقيت القاهرة
الثامنة مساء توقيت مكة المكرمة
و الحضور عبر تطبيق زووم من خلال الرابط
https://us02web.zoom.us/meeting/register/tZIvf-6oqTgsH9Dp3m-SA9-UvVdmBgjmwEYx
علما ان هناك بث مباشر للمحاضرة على القنوات الخاصة بجمعية المهندسين المصريين
ونأمل أن نوفق في تقديم ما ينفع المهندس ومهمة الهندسة في عالمنا العربي
والله الموفق
للتواصل مع إدارة المبادرة عبر قناة التليجرام
https://t.me/EEAKSA
ومتابعة المبادرة والبث المباشر عبر نوافذنا المختلفة
رابط اللينكدان والمكتبة الالكترونية
https://www.linkedin.com/company/eeaksa-egyptian-engineers-association/
رابط قناة التويتر
https://twitter.com/eeaksa
رابط قناة الفيسبوك
https://www.facebook.com/EEAKSA
رابط قناة اليوتيوب
https://www.youtube.com/user/EEAchannal
رابط التسجيل العام للمحاضرات
https://forms.gle/vVmw7L187tiATRPw9
ملحوظة : توجد شهادات حضور مجانية لمن يسجل فى رابط التقيم اخر المحاضرة.
The Facility, together with its partners FSDA and AFD, organized a webinar on "Making change happen within insurers".
In this webinar, we highlighted the change management activities of two partners - AXA Mansard (Nigeria) and SUNU Assurances (Cote D'Ivoire). It also outlined FSDA and ILO's change management framework and step-by-step process.
The presenters discussed activities, results and lessons that will be helpful to other organizations that wish to go through a similar change process.
Presenters: Omosolape Odeniyi (AXA Mansard), Gildas N'Zouba (SUNU Assurances) and Paul Musoke (FSDA). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).
Agile E Business Valtech Agile Edge London March 2010 Al GoernerValtech UK
Agile Methods for Ebusiness keynote from Valtech\'s Al Goerner. London March 2nd 2010.
Whether B2C or B2B, web business applications are increasingly complex & significant investments - with ever greater payoffis it has never been more imoprtant to examine methods for software development that foster
- innovation for market differentiation
- responsiveness for timeliness & change-tolerance
- discipline for quality & reproducibility.
This presentation explores the differences in culture between the creative marketing and detail oriented technology worlds.
For more see www.valtech.co.uk.
Benefits Management presentation by Viren Lall, Head of Business Transformation for BT Global Services and Secretary of the APM Benefits Management SIG
Impact 2013: How Technology is used for real-time monitoring of Dodd-Frank Tr...jKool
Presentation delivered at IBM IMPACT 2013
Dodd-Frank Trade Reporting regulations were enacted to ensure improved transparency and accountability for trade execution and reporting. However, there are key challenges such as: how do swap dealers ensure compliance and how can this be done in real-time as the windows for course correction are small.
-Real-time trade surveillance across the lifecycle of a reportable trade
- NACK Management
- How to provide visibility in real-time to actual or potential breaches in responsibility with the flexibility to change as the regulation evolves
- See the video at: http://www.nastel.com/dodd-frank-webinar.html
The July 2015 Insight newsletter, discussing the changing regulatory landscape and including a conversation with Matthew Lynes, Senior Investment Manager at Aberdeen Asset Management
Conversation with Matthew Lynes, Aberdeen Asset Management. Buy-Side System Requirements - Whitepaper by Quantifi and OTC Partners. The Cost of Collateral - Webinar Survey.
3. Recent Speakers
Brett King, Author, Bank 2.0 and Willem Buiter, Chief Vernon Hill, Vice Chairman,
Founder, Movenbank Economist for Citigroup Metro Bank (UK)
Andrew Tyrie, Chairman of the Peter Ayliffe, Chief Executive Sir Win Bischoff, Chairman,
Treasury Select Committee of Visa Europe Lloyds Banking Group
4. CAS-WG
The Clearing & Settlement Working Group (CAS-WG)
• A WORKING GROUP
• Interpretation of Regulatory Change on Clearing & Settlement
Infrastructures the City (and EU/Global)
• Liaison with Regulatory Authorities
• Technical infrastructure focus
• The MiFID Forum
5. CAS-WG
Subject Groups
– Market Infrastructure Subject Group
Chair: Kathleen Tyson-Quah
– Technology Standards Subject Group
Co-Chairs: Virginie O’Shea and Graeme Austin
– Regulations Subject Group
Chair: Greg Caldwell
6. Agenda
2:00 Introductions
2:15 Updates from Regulations Subject Groups from Chair Greg
Caldwell
2:45 An Overview of T2S progress and general review of clearing in
Europe from Ben Parker, EMEA Securities Clearing and
Settlement, Securities, UBS Group Operations
3:30 Break
4:00 Updates from Infrastructures and Technologies Subject Groups
from Chairs Kathleen Tyson-Quah and Virginie O'Shea
4:30 Discussion of the Europe going forward in light of recent
announcements regarding the Banking Union and EMIR with
• Andrew Simpson, Market Structure Consultant; and
• Bob Fuller, Director, Fixnetix
5:15 Call to action
5:30 Close
13. Regulation Subject-group
Conclusions From Last Session, 28th January
— Our primary value-add is to identify opportunities for financial institutions
to avoid unnecessary costs (avoid ‘digging up the road more than once’)
We termed these ‘road-works issues’ or RWIs.
— To do this for each regulation would mean that useful output from the
subject-group would take too long
— We will pilot a different approach which is to research a number of
potential RWIs across the nine key regulatory initiatives
— We may have to adopt at least one set of assumptions about a likely
future macro environment e.g. polarisation of the market into a few large
clearers and a large number of niche specialists
13
Greg Caldwell 2013
14. Regulation Subject-group
Example RWIs
— Challenge for counterparties to identify what they are to
each other in a relationship
— Similar for threshold declarations (which affect how a
counterparty is classified)
— Similar for risk classification
— For EMIR, UCITS firms have to agree a definition of certain
key events in order to be able to establish whether
thresholds have been met e.g. what constitutes a
completed confirmation
— Many of them will need to put in place or procure an
outsourced service to report to the regulator disputes when
they have met certain thresholds
Greg Caldwell 2013
16. Regulation Subject-group
1. Solicit a long list of 2. Filter and rank the
candidate RWIs RWIs
3. Analyse the best
candidates in the
4. Publish findings
subject-group
meetings
Greg Caldwell 2013
18. Regulation Subject-group
Crowdsourcing – competition
— The Financial Services Club is offering a free membership worth £500 for
the 100th RWI submitted
— Please submit your suggestions to kamila@fsclub.co.uk
18
Greg Caldwell 2013
20. Agenda
2:00 Introductions
2:15 Updates from Regulations Subject Groups from Chair Greg
Caldwell
2:45 An Overview of T2S progress and general review of clearing in
Europe from Ben Parker, EMEA Securities Clearing and
Settlement, Securities, UBS Group Operations
3:30 Break
4:00 Updates from Infrastructures and Technologies Subject Groups
from Chairs Kathleen Tyson-Quah and Virginie O'Shea
4:30 Discussion of the Europe going forward in light of recent
announcements regarding the Banking Union and EMIR with
• Andrew Simpson, Market Structure Consultant; and
• Bob Fuller, Director, Fixnetix
5:15 Call to action
5:30 Close
24. Benefits of T2S
4 Key Areas
Unbundling Flow monster/volume driven Lowest settlement pricing
Harmonisation Open trades/complexity Cost saving/simplification
Optimisation/quality
Collateral shortage
Efficient distribution
Consolidation Multiple custodians Single Custodian
24
25. Fails per Market (Monthly Average 2012)
% of overall volume
%
25
26. Practical Steps
Understand Your Business
How will T2S impact your business
Communicate Understand
Do your clients know about T2S? Your
business
Do they know how it will impact their business?
Validate Strategic Aims
Communi Validate
How will T2S help or hinder your
cate Strategic Aims
strategic aims
T2S
Execute
Do it now. Benefits can accrue before Assess the Market
Assess the
T2S goes live What product offerings are there
Execute Market
Now?
How to
connect?
What is the best way to connect?
Direct, via a CSD, and ICSD, Custodian
26
28. Agenda
2:00 Introductions
2:15 Updates from Regulations Subject Groups from Chair Greg
Caldwell
2:45 An Overview of T2S progress and general review of clearing in
Europe from Ben Parker, EMEA Securities Clearing and
Settlement, Securities, UBS Group Operations
3:30 Break
4:00 Updates from Infrastructures and Technologies Subject Groups
from Chairs Kathleen Tyson-Quah and Virginie O'Shea
4:30 Discussion of the Europe going forward in light of recent
announcements regarding the Banking Union and EMIR with
• Andrew Simpson, Market Structure Consultant; and
• Bob Fuller, Director, Fixnetix
5:15 Call to action
5:30 Close
30. Technology Standards Group Progress
• Working on an RFI to send out to
clearers, CCPs and CSDs/ICSDs – provide hub
for standards and technology requirements for
connectivity and interaction with key market
infrastructures
• Also plan to include T2S requirements as and
when they are confirmed
31. Technology Standards Group Progress
• Monitoring working groups in key post-trade
areas – middle office trade confirmation, trade
repository reporting etc
• Provide a hub for discussion of this work –
highlighting areas of crossover such as
FIX, SWIFT, ISITC and AFME work on trade
confirmation
• Got a list of working groups already and
outreach to others
32. Technology Standards Group Progress
• Championing an update of the Investment
Roadmap for Standards – originally produced
in 2008 and updated with XBRL in 2010
• Intent at the time was to highlight areas of
crossover between standards coverage and
allow coexistence under the banner of ISO
20022 – discourage more crossover in future
34. Agenda
2:00 Introductions
2:15 Updates from Regulations Subject Groups from Chair Greg
Caldwell
2:45 An Overview of T2S progress and general review of clearing in
Europe from Ben Parker, EMEA Securities Clearing and
Settlement, Securities, UBS Group Operations
3:30 Break
4:00 Updates from Infrastructures and Technologies Subject Groups
from Chairs Kathleen Tyson-Quah and Virginie O'Shea
4:30 Discussion of the Europe going forward in light of recent
announcements regarding the Banking Union and EMIR with
• Andrew Simpson, Market Structure Consultant; and
• Bob Fuller, Director, Fixnetix
5:15 Call to action
5:30 Close
35. Future meetings
14th March 2013 18th April 2013
CAS-WG Plenary Meeing “Meet Britain’s biggest fraudster”
BT Auditorium Tony Sales
19th March 2013 29th April 2013
“The Branch: reports of my recent “Are banks just big bullies?”
demise have clearly been over-stated” Jeremy Roe, CEO, Bully Banks UK
Kevin Blair, CEO, New Ground
14th May 2013
9th April 2013 “Fixing our banks – the
“The future for Europe and the Euro: bank, employee and customer view”
whither Europe?” Charles Middleton, CEO, Triodos Bank;
Professor Grzegorz Kolodko, former Dominic Hook, Head of Finance &
Deputy Prime Minister, Poland Legal, UNITE; and James Daley, Head
of Personal Finance, Which? Magazine
36. Future meetings
12th June 2013 17th April 2013
“Social Media: Friend of Foe?” Launch of the
Andrew Walker, Chief Innovation Financial Services Club
Officer, Tweetminster Poland
27th June 2013 5th June 2013
Dinner: “How technology has The future of money
transformed credit from past time to Professor Jakub
real-time” Gorka, Warsaw
Errol Damelin, CEO, Wonga University
David Birch, Consult
Hyperion