VIDEO | “Unfortunately, we don’t have a time machine.” With a parallel to 1980’s movie Back to the future, Euroclear Sweden’s Ann-Kristin Fessé lined out the challenge of moving to the T2S-based post-trade world of the future, through a transformation that could take ten years.
Ongoing regulatory changes, and sub-custodian consolidation, are among the forces that are putting central securities depositories such as Sweden’s Euroclear Sweden at the center of a difficult transformation process. On stage at PostTrade 360° Stockholm on Wednesday morning, Ann-Kristin Fessé mixed serious with joke as she described what is at stake, and how her organization is approaching it.
“We need to be easier to connect with, and cater for different biúsness model. And being harmonised with European standards is a big step.”
Planning needed – and guesses
Guiding principles and collaborative plans with the industry should form a good basis. But not all can be known or prepared for.
“We will have to make some bets as well.”
“But you can not choose a platform before you have decided on your business model,” she emphasised.
“This is not a lift-and-drop. It is a major shift that affects all our services.”
Ann-Kristin Fessé is Head of Commercial Financial Institutions with Euroclear Sweden. In the conference program, her session was headlined “Harmonisation of post-trade in Sweden – and why it is a huge undertaking”
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