Buy-side, sell-side, custodian, clearing house and CSD … the CSDR discussion panel of PostTrade 360° Helsinki saw all perspectives represented. With the upcoming penalty regime remaining a big challenge, the overall tone was cautiously positive on the feasibility as there are signs that regulators are listening to industry expressions of pains.
“We must prevent the creation of an overly complex penalty distribution process,” said clearing house LCH’s Alex Krunic as the discussion commenced.
That said, he reported that his industry is optimistic that its views have been taken onboard by policy makers.
“If we are not fully prepared, this could go badly wrong.”
The panel was made up of …
Garrett Browne, Head of Post Trade, Equities, Fixed Income and FX, Fidelity International,
Alex Krunic, Head of Equities, LCH,
David Daniell, Executive Director, Operations, UBS Investment Bank, and
J.R. Bogan, Senior Product Manager, Investment Operations Outsourcing EMEA, Northern Trust.
Moderator was Matthew Johnson, Product Management & Industry Relations, DTCC.
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