Bringing the securities lending market together
09 July 2024
Discussing ISLA Connects, Tina Baker, head of Legal Services and ISLA Connects lead, sits down with Carmella Haswell to talk about the new initiative
Image: stock.adobe/Sunisa
ISLA Connects is a new initiative by the international association, which has now seen its second event take place. Can you tell me about the project and what it means for the wider securities finance industry?
The ISLA Connects brand was conceived by the International Securities Lending Association (ISLA) team in 2023 in consultation with the board of directors and has been supported by the ISLA DE&I Steering Group. Driven by a desire to leverage our position as an industry body, to cultivate a securities financing industry where all members can bring their unique skills, perspectives, and experiences to advance the industry in the most effective and efficient manner.
The original ambition for ISLA Connects, which still underpins the direction of the initiative today, was to provide a forum for ISLA member firm representatives employed in the securities financing industry to connect, and to enable ISLA to reach market participants who may not have the opportunity to interact with us via ISLA working groups or attend our annual conferences or other regional events.
Kyle Kolasingh, head of Market Services Solutions at RBC Investor Services, and chair of the DEI Steering Group, comments: “Through initiatives such as ISLA Connects, we are able to enhance networking and educational opportunities outside our individual workplaces to aid in furthering an inclusive and collaborative industry.”
Having held your second briefing event for ISLA Connects, how have industry participants responded to the new project?
Last year, our focus when launching ISLA Connects was on networking events to build the community and the brand. These events proved successful with attendees representing the full range of our membership across the securities financing value chain.
With the concept firmly established, this year we launched our Educational Briefings, working in partnership with member firms to host deep-dives into specific topics and themes shaping the industry, followed by structured networking. So far this year, we have partnered with Citi to host a ‘Basel: Endgame’ briefing and more recently, with S&P Global Market Intelligence for an ‘Understanding Data’ session. The sessions allow attendees, who may not be that close to the topic in their day-to-day work, to build their knowledge and apply this within their organisation.
As with all ISLA’s events, we share a post event survey with delegates to garner feedback and make sure the content and outcomes meet their expectations and continue to add value to their work and their member firms.
Matthew Chessum, director of securities finance at S&P Global Market Intelligence, says: “I was delighted to support and participate in the second ISLA Connects Educational Briefing, hosted at our offices.
"One of the most striking observations on the day, was the diversity of the attendees, both in terms of the firms they represented, but also their respective roles within our industry. This type of initiative really helps to connect those who are new to the industry to their peers whilst broadening their knowledge base."
What was the catalyst for the creation of this project? Why is now the opportune time for it to take place?
We are witnessing an incredible amount of change in the industry, driven by regulation, digitisation and technology. With this change comes the need for innovative mindsets to drive new solutions. To address this need, we recognise the importance of attracting and cultivating new talent and skills, as well as enabling seasoned market participants to further develop their skillsets.
This view was echoed at ISLAs recent Annual Securities Finance & Collateral Management conference in Geneva, during the ‘New Hiring Paradigm’ panel. The panellists highlighted that the industry, although still rooted in interpersonal relationships (which remain important), now also requires more non-traditional skillsets including data analysis, risk management and IT development, to help drive productivity and profitability of trading desks.
Through ISLA Connects we can expose attendees to a broad range of industry defining topics and themes, forge cross industry relationships and ultimately help develop the next generation of decision makers. From an ISLA perspective, our hope is that these decision makers will maintain their relationship with ISLA through our working groups and industry events to help shape the future of the industry.
Where does the association intend on taking ISLA Connects? What role will it play in ISLA’s evolution?
While ISLA Connects was initially focussed on new entrants to the industry, this has evolved to become more inclusive and welcoming of a broader range of professionals. It is still very much about opening doors and building networks but with a focus on developing the knowledge and skills needed to progress our industry.
In terms of initiatives, we will be continuing to focus on expanding the reach of our Educational Briefings. The next briefing is currently planned in partnership with RBC Investor Services, exploring the legal frameworks that underpin the industry, and we are aiming to host at least one more this year.
We also have plans to launch ISLA Connects, or at least a similar model, in the Americas through our affiliate, ISLA Americas. The need to encourage and promote the next generation of talent is a global challenge and we are incredibly excited to see this model expand into different regions.
The ISLA Connects brand was conceived by the International Securities Lending Association (ISLA) team in 2023 in consultation with the board of directors and has been supported by the ISLA DE&I Steering Group. Driven by a desire to leverage our position as an industry body, to cultivate a securities financing industry where all members can bring their unique skills, perspectives, and experiences to advance the industry in the most effective and efficient manner.
The original ambition for ISLA Connects, which still underpins the direction of the initiative today, was to provide a forum for ISLA member firm representatives employed in the securities financing industry to connect, and to enable ISLA to reach market participants who may not have the opportunity to interact with us via ISLA working groups or attend our annual conferences or other regional events.
Kyle Kolasingh, head of Market Services Solutions at RBC Investor Services, and chair of the DEI Steering Group, comments: “Through initiatives such as ISLA Connects, we are able to enhance networking and educational opportunities outside our individual workplaces to aid in furthering an inclusive and collaborative industry.”
Having held your second briefing event for ISLA Connects, how have industry participants responded to the new project?
Last year, our focus when launching ISLA Connects was on networking events to build the community and the brand. These events proved successful with attendees representing the full range of our membership across the securities financing value chain.
With the concept firmly established, this year we launched our Educational Briefings, working in partnership with member firms to host deep-dives into specific topics and themes shaping the industry, followed by structured networking. So far this year, we have partnered with Citi to host a ‘Basel: Endgame’ briefing and more recently, with S&P Global Market Intelligence for an ‘Understanding Data’ session. The sessions allow attendees, who may not be that close to the topic in their day-to-day work, to build their knowledge and apply this within their organisation.
As with all ISLA’s events, we share a post event survey with delegates to garner feedback and make sure the content and outcomes meet their expectations and continue to add value to their work and their member firms.
Matthew Chessum, director of securities finance at S&P Global Market Intelligence, says: “I was delighted to support and participate in the second ISLA Connects Educational Briefing, hosted at our offices.
"One of the most striking observations on the day, was the diversity of the attendees, both in terms of the firms they represented, but also their respective roles within our industry. This type of initiative really helps to connect those who are new to the industry to their peers whilst broadening their knowledge base."
What was the catalyst for the creation of this project? Why is now the opportune time for it to take place?
We are witnessing an incredible amount of change in the industry, driven by regulation, digitisation and technology. With this change comes the need for innovative mindsets to drive new solutions. To address this need, we recognise the importance of attracting and cultivating new talent and skills, as well as enabling seasoned market participants to further develop their skillsets.
This view was echoed at ISLAs recent Annual Securities Finance & Collateral Management conference in Geneva, during the ‘New Hiring Paradigm’ panel. The panellists highlighted that the industry, although still rooted in interpersonal relationships (which remain important), now also requires more non-traditional skillsets including data analysis, risk management and IT development, to help drive productivity and profitability of trading desks.
Through ISLA Connects we can expose attendees to a broad range of industry defining topics and themes, forge cross industry relationships and ultimately help develop the next generation of decision makers. From an ISLA perspective, our hope is that these decision makers will maintain their relationship with ISLA through our working groups and industry events to help shape the future of the industry.
Where does the association intend on taking ISLA Connects? What role will it play in ISLA’s evolution?
While ISLA Connects was initially focussed on new entrants to the industry, this has evolved to become more inclusive and welcoming of a broader range of professionals. It is still very much about opening doors and building networks but with a focus on developing the knowledge and skills needed to progress our industry.
In terms of initiatives, we will be continuing to focus on expanding the reach of our Educational Briefings. The next briefing is currently planned in partnership with RBC Investor Services, exploring the legal frameworks that underpin the industry, and we are aiming to host at least one more this year.
We also have plans to launch ISLA Connects, or at least a similar model, in the Americas through our affiliate, ISLA Americas. The need to encourage and promote the next generation of talent is a global challenge and we are incredibly excited to see this model expand into different regions.
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