How to succeed in the new post-trade services landscape: Reduce risks, cut costs and get closer to clients

Rob Scott

Journal of Securities Operations & Custody, 2010, vol. 3, issue 1, 14-23

Abstract: This paper contains an analysis of recent developments in the European post-trade landscape for securities. It focuses on two broad themes and the consequences they will have for market participants and institutions offering support services: efforts by regulators and industry bodies to overcome the barriers to harmonisation detailed in the 2001 report from the Giovannini Group of financial experts and the implementation of a harmonised settlement system in the form of the Target2-Securities initiative, and the fallout from the financial crisis and subsequent global economic downturn. The paper argues that — thanks to economic and regulatory imperatives — both of these developments will lead to a growing trend away from institutions developing in-house administration capability and towards the outsourcing of commoditised back-office services and processes to specialist institutions where both scale and efficiency models can be leveraged.

Keywords: outsourcing; self-clearing; post-trade service model; agent banks (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2010:v:3:i:1:p:14-23

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