The global securities landscape is on the verge of transformation, with new technologies and digitalization efforts poised to deliver major efficiencies and potential savings. This represents a radical change for an industry historically fragmented in terms of technology, operating models, and process inconsistencies.
The periodic volatility and remote working caused by the pandemic have been a catalyst for this change. The pandemic has also highlighted the need for market participants, regulators, and financial market infrastructures (FMIs) to cooperate on key initiatives, such as digitization and digitalization.1 Appetite for both is clearly increasing as their potential to transform the industry becomes more widely acknowledged by market participants and FMIs alike.
