29 - 30 MarchSpace Arena

Let’s meet again in Stockholm
– for the Nordics’ largest
post-trade conference!

PostTrade 360° Stockholm • 29–30 March 2023 
Space Arena

The agenda for the PostTrade 360° Stockholm 2023 conference, on 29–30 March, will develop here below. Sign up today to take part at the spectacular new Space Arena, just by Sergels torg. 


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PostTrade 360° is the leading investment operations conference in the Nordics and Netherlands, covering fund administration, custody, clearing/settlement, post trade technology and regulation.

News around PostTrade 360° Stockholm, across the years and on the days, is gathered here.
For last year’s event website, click here.

Speakers

Gabriel Vimberg
Investor Services, SEB

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Göran Fors
Deputy Head of Investor Services, SEB

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Roger Storm
CEO, Euroclear Sweden

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Camille Papillard
Head of Financial Intermediaries and Corporates Client Line EMEA, BNP Paribas Securities Services

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Colin Parry
Chief Executive Officer, ISSA - International Securities Services Association

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Schedule

PANEL: So how is the catching up going on Sweden’s settlement harmonisation?

At PostTrade 360° Stockholm 2022, deputy governor Martin Flodén described Riksbanken’s reasons for initiating a Swedish move towards adopting the EU’s T2S settlement platform, which would open Sweden’s settlement market for more actors than today’s single one. Sweden had lagged behind on harmonisation, he stated. So how have preparations continued behind the scenes in the year since then?

PANEL: Chasing that next basis point – Approaches to optimisation in Swedish fund operations

With the ongoing fee squeeze on fund managers, nailing the operations nitty gritty is increasingly a matter of survival. Let’s take a look at where some industry professionals will be seeking their next marginal efficiency or quality improvement in 2023, and what broader operational strategies they believe could be necessary for the long haul.

PANEL: Talking about the devil

Clearinghouse representatives will calmly tell us how even the most volatile markets (such as in the Coronavirus crisis) are safely managed within their business-as-usual processes. Yet, a market headache can strike suddenly, and on the rare occasion that it would rattle a large CCP or a large cross-CCP trading firm, it could get really bad. On global level, the Financial Stability Board is considering tougher requirements on the CCPs to cover a larger part of losses upon a clearing member’s default (an idea that is controversial with the CCPs but supported by many of the trading actors).So, after all the shoring up that has taken place in the global trading system since the 2008 crisis, what can we predict or guess about our next disaster – and how should market participants build constant resilience into their operations to brace for this unknown but expectable-sooner-or-later misery?

PANEL: How Europe’s clearing landscape is taking new shape

As Europe’s largest marketplace operator, Euronext, has launched its own pan-European clearinghouse business, and as the EU has encouraged the move of clearing in some asset classes from London to the continent post-Brexit (notably to Deutsche Börse-owned Eurex for derivatives such as interest rate swaps), the competitive map has been redrawn. Let’s have a look at it.

PANEL: How new asset classes are coming on at the clearinghouse – and who it matters for

Political incentives are helping (or forcing, some might say) more market participants, and a broader range of assets, to find their way into the clearinghouses. In what areas are volumes and liquidity developing? What benefits – and remaining headaches – are in users’ focus?

PANEL: Custodian consolidation continues – what is it bringing for clients?

Yes, State Street’s initiative to take over Brown Brothers Harriman’s investor services ran into obstacles and was cancelled. Yet, speculation around other potential merger candidates for BBH stays in the air, and overall, custody industry consolidation seems to be approaching an end station. In Europe, CACEIS’ deal to acquire RBC’s European asset servicing business is the most recent big move.So how good or bad is this development for clients? Will these mainly benefit from their servicers’ growing strength and capability, or lose out to rising prices as the competition among servicers dwindles? And how else will they see a difference?

KEYNOTE: The direct question

For a global custodian, weighing the pros and cons of contracting a sub-custodian in a market – compared with connecting directly to the local securities depository there – is perhaps the most decisive strategic choice, and the talk about a possible “disintermediation” trend to bypass sub-custodians has been around since long. What patterns can be observed in real life, what are the drivers, and how will custodians’ clients experience any differences between a direct-to-CSD and a via-sub-custodian setup?

PANEL: The looming return of the mandatory buy-in

You thought the settlement discipline saga was ending? Not so fast there. Realising that it can use the dreaded mandatory buy-ins as a threat, instead of necessarily putting them into action, the European Commission has built uncertainty into the system by design. Since the go-live of penalties for settlement failures a year ago (which is the other half of the settlement discipline regime under CSDR, beside the buy-ins), it has been evident that a major improvement to settlement rates is not an easy thing to pull off for participants. So, again, how is the situation developing for them, what need for further action is next … and will the mandatory buy-in monster rear its head?

PANEL: How best to take action (or snooze?) on T+1

Last summer, a DTCC-sponsored “playbook” scheduled the United States’ go-live of T+1 settlement for the third quarter of 2024, and the UK seems eager to move soon after, to take a lead over the European Union it recently broke out from. It has been suggested that this initiative could easily slip behind the schedule, but the biggest difficulty then comes when Europe eventually needs to catch up. This could be many years later, given the complexity of the European market, and some even suggest skipping it and go straight for next-generation DLT-based digitalised platforms.In all of this, how should a market actor such as an asset owner, an asset manager, or a broker, actually prepare?

PANEL: So in what areas should businesses start adopting DLT-enabled capabilities? And how … and when?

The talk of distributed ledger technology, such as blockchain, has been going on for quite a few years now and it easily gets quite technical. We’re not all planning to become engineers, though. So what are the new capabilities becoming available, from a business point of view? How will different market actors interface with them – and how will we know when is the right time to take the plunge?There is increasing talk also of a need for industry “coopetition” – cooperation in selected areas between companies who generally compete – to promote the interconnectivity that will make the new networks able to support a variety of transactions. How could that look in some real-life cases, and could it have implications for my business?

CASE STUDY: Digital issuance – how we did it, and why

The first CSDs and exchanges have now gone live with their DLT-based platforms for issuing and trading digitalised securities – such as SIX, with its SDX division, and Deutsche Börse/Clearstream, with its D7 platform. And the first issuers have already tried it out. This session presents you with one of the cases.

PANEL: Forest fires and police raids – but where is the data? The asset manager’s delicate sustainability balance

The EU requires climate action, while 10 US states have legislated against it. Sustainability certifications have been developed, but what exactly do they require – and can I be punished if I honestly misinterpret the criteria?As the hunt-down on “greenwashing” practices has intensified (with the mid-2022 raid at DWS as an extreme event), asset managers are developing more rigorous and standardised methods and product categorisations. What’s their approach?

PANEL: So how bad will it be when the CCP calls for pension funds’ cash?

It is for more than ten years now that pension scheme arrangements, “PSAs”, have enjoyed an exemption from an obligation for central clearing, under market infrastructure regulation EMIR. However, on 19 June this year, that obligation will finally hit them, too – and the industry is now discussing how to brace for the days when they need to pay unexpected amounts of cash for variation margin to cover their counterparty risks at their central counterparty clearinghouses.Market supervisor ESMA says the readiness has improved to a level that should be good enough now, based on “a mix of solutions […] available to PSAs, including sponsored cleared repo models”. What is the current view among the pension managers and their CCPs?

TIME & PLACE

29–30 March 2023, Space Arena, Sergelgatan 2, Stockholm

TARGET AUDIENCE

Investment operations professionals, such as: COO, Head of Fund Operations, Head of Fund Administration, Head of Middle Office, Head of Risk, Head of Compliance, Head of Market Support, Head of Back Office, Legal Counsel, Head of Clearing & Settlement, Middle Office Manager, Risk Manager, Compliance Manager, Back Office Manager, Settlement Manager

Post Trade 360 reserves the rights to decline free registration of delegates outside the target audience. If you are a solution provider and would like to register or become a sponsor to the event, please contact kim.ersson@360fmg.com

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