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Can technology and digitalization significantly enhance securities trading and post-trading efficiency?

Can technology and digitalization significantly enhance securities trading and post-trading efficiency?

Day 2 Afternoon

Thursday 27 April

Room :

ROOM 1

Speakers

Chair
Carlo Comporti
Commissioner - Commissione Nazionale per le Società e la Borsa (CONSOB)
Public Authorities
Claudine Hurman
Director Infrastructures, Innovation and Payments - Banque de France
Julian Reischle
Director General Payments and Settlement Systems - Deutsche Bundesbank
Takeshi Shirakami
Deputy Head of Secretariat - Committee on Payments and Market Infrastructures
Industry Representatives
Roland Chai
Executive Vice President - Nasdaq
Lawrence Low
Global Head, Regulatory Affairs - Standard Chartered Bank
Arnaud Misset
Chief Digital Officer - CACEIS
Jennifer Peve
Managing Director, Head of Strategy and Business Development - The Depository Trust & Clearing Corporation

Objectives

This session will focus on the use and impact of blockchain related technology (including smart contracts, tokenisation…) and artificial intelligence (AI) in securities trading and post-trading processes.
The first objective of this session is to take stock of the uptake of these new technologies in securities trading and post-trading processes and of on-going experiments led by the public and private sectors to further digitalise these activities. The impact of these technologies in the securities market in terms of efficiency, safety and customer service will also be assessed, as well as the challenges associated with their implementation at scale for core securities market processes.
Secondly, the panel will identify the risks associated with the use of these technologies in the trading and post-trading areas and evaluate whether the existing financial and digital policy frameworks are well suited to support these developments.

Points of discussion

  1. What is the state of play of digitalisation and of the use of new technologies such as DLT, tokenisation, smart contracts, AI… in the securities trading and post-trading space? To what extent can these technologies be game changers for securities markets? What are the most significant experiments being conducted by central banks and the financial industry in this area? What are the main potential benefits and challenges associated with these technologies? Does the use of these new technologies create new risks?
  2. Is there a prospect of using new technologies such as DLT, tokenisation, smart contracts, AI… at scale for core securities processes in the short to medium term? What are the main operational challenges and potential obstacles to overcome? Are EU financial and digital finance regulations fit-for-purpose for supporting these developments and tackling the possible risks from these technologies? Are any evolutions needed in terms of supervision to support these developments?