不断发展的美国.S. capital markets landscape continues to put pressure on firms to navigate the impact of rapid innovation and technological advancements.
S赞助&P全球, 马特·希尔, 据导演, 资产服务 Product Management, Michael O ' brien, 执行董事, 宣布捕获, J.P. Morgan, Pauline Remhof, Director, Corporate Actions, Charles Schwab & Co.公司., and Bidhu Rusia, Director, Product Management, SPGMI. The panel was moderated by Madhu Ramu, Managing Director, Head of Data and Product, SPGMI.
Watch the full panel discussion and read highlights about 存’s perspectives below:
Navigating the Speed of Change
- All firms want to harness the benefits of innovative technologies, but the challenge is the investment - time, capital and ideas - to develop and understand the solution to today’s challenges.
- With technology moving so fast, the challenge is to define what is needed, not just rush just to do something.
“Before modernizing technology, we took a broad look at security reference data to understand how we can pull all the reference data together to modernize the business and leverage artificial intelligence and predicative analytic on a broader scale.——马特·希尔，存
实施T + 1
- 美国.S. implementation date is set for Tuesday, 5月28日, 2024, 而阿根廷, 加拿大, Mexico and Peru will move forward with implementation a day earlier on 五月 27, 2024.
- Compared to the industry move to a T+2 settlement cycle in 2017, the migration to T+1 there is a much heavier lift. 存 has been running industry wide testing cycles, giving everyone the ability to test to ensure everyone is aware and ready for the switch.
“From a readiness perspective, 存 held 15 tabletops with many of our largest clients across ITP, NSCC and 直接转矩 in preparation for T+1 to look at different outage scenarios, providing insight and confidence that customers were preparing and had the ability to pivot as needed.——马特·希尔，存
欲知详情，请浏览 UST1.org.
定义T+1成功
- 存 is not tracking fails right away, instead monitoring affirmation rates for ITP, 目标是90%-99%.
- 存 will also be checking NSCC volumes. Currently there are 197 million actual trades through NSCC and the rate being netted should stay around the goal of 90%–99%. Once historical thresholds are in place, fails will be examined at some point in time 帖子 the T+1 migration.
“If fail rates rise, so will claims. 存 is going to marketing ClaimConnect 2.0 to encourage firms to use it as a way to help get ahead of fail corporate action entitlement management, to highlight API automation and auto-matching to input, match and settle a claim in near real time.——马特·希尔，存
Read the latest on the industry’s 肯定的进步.
Progress and advantages of 存’s modernization journey
- 存 is looking at widespread Core Clearance and 结算 modernization—particularly as the industry looks toward accelerating the settlement cycles past T+1.
- 存 is focusing on advancing its asset services businesses to best align them to the security lifecycle.
“展望未来, 存 has created a technology, research and innovation team to start testing ways to safely integrate newer technologies, 像GenAI, into our core businesses.——马特·希尔，存
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