Future Proof Post-Trade Matching
-
Upload
davidward10 -
Category
Technology
-
view
196 -
download
0
Transcript of Future Proof Post-Trade Matching
Guy Eden
Future proof post-trade matching
Guy Eden, Head of Product Management
SIBOS 2011, Toronto
2
• Communication• Matching
3
• Regulatory uncertainty• Changing trading patterns• Risk mitigation
4
• Regulatory uncertainty• Changing trading patterns• Risk mitigation
5
• Regulatory uncertainty• Changing trading patterns• Risk mitigation
• Connectivity• Matching• Scale
6
Increasing regulation
• Dodd-Frank• FIN48• HIRE
• MiFID / MiFID II• EMIR• UCITS
7
Changes in scale - equity growth
8
Changes in scale - ETF growth
9
Changes in scale
10
Risk reduction - 2008
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
11
Risk Reduction
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
12
Risk Reduction
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
13
Risk Reduction
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
14
Risk Reduction
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
15
Risk Reduction - 2011
0%
5%
10%
15%
20%
25%
30%
35%M
org
an S
tan
ley
Go
ldm
an S
ach
s
JP M
org
an (
Bea
rS
tear
ns)
Deu
tsch
e B
ank
UB
S
New
Ed
ge
Cre
dit
Su
isse
Ban
k o
f A
mer
ica
(Mer
ril
Lyn
ch)
Bar
clay
s
Cit
i
Oth
ers
Leh
man
Bro
ther
s
16
Legacy challenges
17
Summary
CCP connectivity Flexible communication
Trade repository connectivity Flexible communication
Scalability
Flexible asset class handling
Increased volumes Scalability
Diversity of asset classes Flexible asset class handling
Geographical diversity Flexible communication
Real time matching Real time matching
Multiple counterparties Flexible communication
Flexible interfaces (FIX, SWIFT, . . .) Flexible communication
Low barriers to entry Browser interface
Multiple data formats Flexible asset class handling
Increased volumes & diverse asset classes
Regulatory uncertainty
Changing trading patterns
Risk mitigation
Legacy operations
19
20
10 Paternoster SquareLondon EC4M 7LS
T +44 (0)20 7797 1000
www.londonstockexchange.com
UnaVista
one view of your data
Stand L114