T+1 Settlement Investors Prepared For Success Or Failure
Speaker(s):
Chairman:
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Background:
This presentation will identify the many areas of concerns for investors and their agents meeting a settlement timescale of trade date plus one day. North America has set May 27th Canada and May 28th USA next year for their domestic markets to move from T+2 to T+1. International investing into Nth America accounts for around 40% of annual transaction volume. So, it will impact portfolios around the world. ISITC Europe was commissioned by the Swift Institute to undertake and academic research study of impacts on global markets. The analysis of impacts and definition of various challenges makes this watershed settlement change one of wide ranging and complex ever encountered in the international capital markets. Impacting FX, Treasury, Risks transference, costs, and liquidity and more and with ETFs financial product. It could impact working hours and potential movement of listings and businesses to North America. It is not just a technology challenge but also business Many of these areas has not been publicly discussed until now!
Speakers:
Gary Wright is one of the founding members of ISITC Europe and is currently a Director of Industry Affairs at ISITC Europe CIC, which is a registered not-for-profit community interest company. He has been in the finance industry since 1969, holding senior positions within several major financial institutions. He participated in many industry committees including setting the CISI Operations Management exam papers and has been a guest lecturer at Reading University and at the ICMA. Gary has also undertaken a range of consultancy assignments as well as working in an advisory and industry relationship capacity for a number of leading suppliers, enabling him to understand problems from both the buyer’s and seller’s perspective.
Gary is highly sought after for his views and advice on the impacts on business and operations of market and regulatory changes. He has run many industry workshops, training sessions and roundtables and chaired, moderated a considerable number of conferences. His blogs, articles, whitepapers, and reports are published world-wide, and he is an accomplished speaker and commentator on the many changes in the financial services marketplace.
Tony Freeman is Director of Policy at ISITC Europe and a member of the UK Accelerated Settlement Task Force. He is a former Executive Director – Government & Industry Relations at the DTCC and an acknowledged thought leader. His career in the capital markets began over 30 years' ago as a business and systems analyst for two leading Asset Management organisations. Then moving into relationship management at JP Morgan Investor Services. Before being recruited to create the Industry Relations function in Europe for Omgeo (later acquired by the DTCC).
His time at the DTCC encompassed strategy development, client relationship management; Acting as Brexit policy manager from 2016-2020. Principal thought-leadership & media spokesperson for DTCC Europe (Covering: post-trade initiatives & market structure, infrastructure, risk, regulation, cyber-security, Blockchain / DLT). Lobbying and influencing key policy-makers and regulators in Europe and Asia-Pacific/Australia). Relationship management with Regulators & policy-makers, market infrastructures and trade associations in Europe, America's and Asia-Pacific.
He has presented at a considerable number of industry conferences. His blogs and thought leadership articles have been published in a number of leading Trade Publications. His expertise covers; Public Affairs/ Policy / Political liaison, UK and EU Regulation, Middle and back-office operations /technology, Market infrastructure, Clearing, Settlement & Trade repositories. Tony has sat on a number of industry committees and working groups.
Dr Anthony (Tony) Gandy is Director of Academic Research at ISITC Europe and is a visiting professor at the LIBF. He led a 9 month academic research study on the global impact of North America moving to T+1, which was commissioned by the SWIFT Institute, the resulting paper is now available on both the ISITC Europe and SWIFT Institute websites.
His expertise is in banking, fintech, regulation, electronics, and corporate strategy and has worked in and around the financial services sector for over thirty years, including financial journalism (The Banker), investment banking (Daiwa Securities), bank regulation (Bank of England), banking education (LIBF). Playing a leading role in developing several master's degrees for mid-career bankers looking to progress to senior management.
Over the past 30 years he has maintained an active engagement and output in academia, collaborating with academics from Southampton, Kent, and Ulster universities, as well as on his own. Producing hundreds of articles, reports and academic papers on corporate strategy, bank technology and strategies in the electronics, computing, and banking sectors.
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