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

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  • Scott, Rob

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.

Suggested Citation

  • Scott, Rob, 2010. "How to succeed in the new post-trade services landscape: Reduce risks, cut costs and get closer to clients," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 3(1), pages 14-23, May.
    • Handle: RePEc:aza:jsoc00:y:2010:v:3:i:1:p:14-23
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    More about this item

    Keywords

    outsourcing; self-clearing; post-trade service model; agent banks;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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