IMN: Future is forward-looking and data-driven
07 February 2019 Fort Lauderdale
Image: Shutterstock
The future of central clearing counterparties (CCPs) and their role in the securities finance ecosystem is data-driven, according to a panel at this year’s IMN's Beneficial Owners' International Securities Finance & Collateral Management Conference in Fort Lauderdale.
Jennifer Whitcomb, managing director, State Street Global Markets, asked panellists what the future holds for clearing in securities financing transactions.
In response, panellist Matt Wolfe, vice president, product development, OCC, commented: “At OCC we are investing heavily in creating a next-generation clearing platform for all products that we clear for and that has given us an opportunity to think creatively about what the future looks like.”
“It is forward-looking and data-driven and it is also intuitive to use and aims to look forward into the future of what our clients need.”
In terms of trends, Wolfe said: “There is a trend for data focus and data-based decision making and so ensuring that the platform is real-time, fully automated, has robust data, is important but also the user experience is equally important as automation.”
“We are applying human-centric design principal to make sure that the experience of clearing and using our systems is a pleasure and enables participants to focus on what matters most.”
James Hraska, managing director, DTCC, said: “We are trying to build products that are user-friendly, and we are continuing to look at different avenues and we are happy to hear feedback.”
Whitcomb echoed this: “I would like to encourage that cycle of feedback and find out what it is that peers are looking for.”
“We have been working collaboratively on these efforts so I would encourage participants to seek feedback and reach out to their service providers. Then you can move forward in a way that is helpful for everyone in the industry.”
Arianne Collette, executive director, Morgan Stanley, added: “Ask questions about the programmes so that you know what is going on in the marketplace and so that you can provide feedback. It is also important to ask for price points and understand what the pricing looks like”
Jennifer Whitcomb, managing director, State Street Global Markets, asked panellists what the future holds for clearing in securities financing transactions.
In response, panellist Matt Wolfe, vice president, product development, OCC, commented: “At OCC we are investing heavily in creating a next-generation clearing platform for all products that we clear for and that has given us an opportunity to think creatively about what the future looks like.”
“It is forward-looking and data-driven and it is also intuitive to use and aims to look forward into the future of what our clients need.”
In terms of trends, Wolfe said: “There is a trend for data focus and data-based decision making and so ensuring that the platform is real-time, fully automated, has robust data, is important but also the user experience is equally important as automation.”
“We are applying human-centric design principal to make sure that the experience of clearing and using our systems is a pleasure and enables participants to focus on what matters most.”
James Hraska, managing director, DTCC, said: “We are trying to build products that are user-friendly, and we are continuing to look at different avenues and we are happy to hear feedback.”
Whitcomb echoed this: “I would like to encourage that cycle of feedback and find out what it is that peers are looking for.”
“We have been working collaboratively on these efforts so I would encourage participants to seek feedback and reach out to their service providers. Then you can move forward in a way that is helpful for everyone in the industry.”
Arianne Collette, executive director, Morgan Stanley, added: “Ask questions about the programmes so that you know what is going on in the marketplace and so that you can provide feedback. It is also important to ask for price points and understand what the pricing looks like”
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