This senior panel at the World Forum of CSDs in Prague looked into what it will take to smoothen the process as investors and issuers seek each other on a global scale. 

The Wednesday afternoon session was labelled “Streamlining regulation for cross-border transactions and connections of international issuers and investors”. 

On its panel were … 
Vojtěch Belling, Executive Director, Department of Financial Regulation and International Cooperation, Czech National Bank,
Jim Turnbull, Deputy Director- Head of Product Group Capital and Financial Markets Development, EBRD,
Indars Ascuks, CEO, Nasdaq CSD. Deputy Chairman of ECSDA, and
Abdulla Jaffar Abdin, Chief Operating Officer, Bahrain Clear, Chairman, AMEDA,
… in discussion led by Mark Gem, Chair, ECSDA and WFC Board,


Jim Turnbull pointed to the importance of balancing the benefits of financial market infrastructures against the costs they incur – directly, and in terms of the action that market participants must take to comply. In Eastern Europe, a larger regional central clearing counterparty (CCP) across large nations might have made better business sense, taking costs and scale into account, he discussed. Yet, many nations have acted along the logic that such a regional CCP must be hosted by themselves – thus counteracting the purpose. 

Leading a unified CSD across four nations (Estonia, Latvia, Lithuania and Iceland), Indars Ascuks could share his perspective on what it takes to cross borders in the CSD space. 

• The World Forum of Central Securities Depositories runs in Prague 24–26 May 2023. Our coverage of it is listed here.

(Our posts will be low on direct quotes, as the event welcomes journalists on the condition that such must be explicitly confirmed with each speaker, which adds an operational hurdle.)