As part of the Heard at Ops series, 弗兰克·拉·萨拉 discusses several key 存 focus areas, plans for shaping the future of the global financial markets and the role of technology, as well as the importance of partnership, 为了实现这一愿景. 观看视频并阅读Q&下面一个.
Q. How is this 50-year anniversary for 存 – and SIFMA Ops – a springboard for the future?
FS: 为我们的 50周年, 我们在庆祝我们的过去, but we’re also looking ahead to build the capabilities to play a broader and more impactful role supporting the industry. We’re taking important steps to evolve the organization, refresh our strategy and culture framework and optimize our platform to deliver greater client value and an enhanced client experience.
现在比以往任何时候都重要, technology is transforming operations across financial services, which will dramatically alter how the industry functions and serves clients. 具体地说, the interlinkage between front office trading and back-office processing and technology is closer than ever before. 正因为如此, 存 can continue to play a central role in bringing the front, middle and back offices together to make financial markets safer and even more efficient and resilient.
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Q. What are the priorities that 存 is focused on?
FS: We’re focused on a number of key areas across the business and shortening the settlement cycle 从T+2到T+1 is among the most important for us and the industry. Working in partnership with SIFMA and ICI, 我们进行了尽职调查, engaged a broad cross-section of the industry and galvanized support to accelerate settlement. Now that the SEC has established an implementation date, we’re providing support to market participants to ensure a seamless transition. We’re confident that a shorter settlement cycle will deliver real value to the industry by reducing risk, lowering clearing fund requirements, and improving capital and liquidity utilization.
Another priority is the SEC’s proposal to expand access to central clearing for U.S. 财政事务. It goes without saying that 存 is a strong proponent of central clearing, and the SEC’s proposal would represent a dramatic change in market structure – even more significant than the move to T+1. We recognize there are many industry viewpoints on the SEC’s plan, so right now we’re providing thought leadership and transparency and sharing information on how our products and services can support the proposed expansion.
最后, modernization plays a critically important role in the day-to-day functioning of the global financial markets. When I think about this topic and how we advance our solutions, 比如复原力, 从失败中走出来, 经济复苏是当务之急. We need to be prepared for different scenarios, plan for them and be able to react quickly to ensure the continued smooth functioning of the financial markets.
Q. What are the opportunities that are shaping the future of the financial markets?
FS: The opportunities for financial services are enormous, and there is no doubt that digital innovation will play a critical role in reshaping the industry. Technologies like cloud computing, DLT and AI have enormous potential to transform the global financial markets and improve how services are delivered in ways that we can’t even imagine.
During these early days of the digital revolution, it is important that the industry foster greater collaboration, including with technology providers, when exploring how these and other technologies can be leveraged. This is critical to creating the building blocks for future interoperability. We all share a collective goal to reduce risk, improve resilience and help make investing easier and better for the public. If we can harness the power of technology and coalesce the right way, the sky’s the limit.
弗兰克·拉·萨拉 is President, CEO and 导演 of 存. He also serves as President and Chief Executive Officer of 存’s principal operating subsidiaries, 直接转矩, FICC和nsc.
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This article was originally published to SIFMA 8月7日. 2023.