ISLA's digital working group gains mass support
19 June 2020 London
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The recently-launched digital working group by the International Securities Lending Association (ISLA) has garnered major market interest, with more than 50 of ISLA's 160-strong member base already signed on to contribute.
The group was unveiled in April and will form a major part of ISLA’s push to encourage digitalisation and standardisation of global securities lending markets, including the adoption of a common domain model and other objectives the association outlined in its Agenda for Change.
The working group is initially focused on forming ISLA’s responses to consultations being run by the European Commission and the Bank of England on how to advance the digitisation of financial markets.
ISLA director Adrian Dale, who leads the association's Securities Financing Transactions Regulation (SFTR) initiative, tells SLT that the aim when forming the digital working group was to have a balanced representation of members covering both buy- and sell-side members, along with vendors and legal experts.
“After the first communications, interest grew quite quickly and we surpassed 50 [members] a while back,” he says, adding that ISLA has managed to maintain “roughly equal” representation from the buy and sell sides of the market.
“We also have board members, legal representatives and vendors from across the industry,” Dale adds.
Elsewhere, ISLA also recently brought on State Street’s former SFTR guru David Shone to act as a contract consultant and support the working group and ISLA's overall digital agenda.
The group was unveiled in April and will form a major part of ISLA’s push to encourage digitalisation and standardisation of global securities lending markets, including the adoption of a common domain model and other objectives the association outlined in its Agenda for Change.
The working group is initially focused on forming ISLA’s responses to consultations being run by the European Commission and the Bank of England on how to advance the digitisation of financial markets.
ISLA director Adrian Dale, who leads the association's Securities Financing Transactions Regulation (SFTR) initiative, tells SLT that the aim when forming the digital working group was to have a balanced representation of members covering both buy- and sell-side members, along with vendors and legal experts.
“After the first communications, interest grew quite quickly and we surpassed 50 [members] a while back,” he says, adding that ISLA has managed to maintain “roughly equal” representation from the buy and sell sides of the market.
“We also have board members, legal representatives and vendors from across the industry,” Dale adds.
Elsewhere, ISLA also recently brought on State Street’s former SFTR guru David Shone to act as a contract consultant and support the working group and ISLA's overall digital agenda.
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