Market Structures

This blog collects thought leadership from SunGard’s market structure experts, looking at how transparency, efficiency and networks are shaping the future of this critical area of financial services. For more of SunGard’s views, see http://blogs.sungard.com/ten/

12
Aug
2014

Lewis on Lending: Securities Lending: A Game of Roulette or Kerplunk?

Contributor:

This blog post is an excerpt of SunGard's August issue of its Securities Lending Focus report. Download the report here. It is said that history repeats itself and the cycles of boom and bust, bubble and burst continue to spin partly because past financial disasters soon pass out of people’s memories. Already we are seeing potentially over-inflated share prices, fraud events such as Let’s Gowex in Spain, and a steady relaxation of the restrictions put in place following the 2008 financial crisis.... read more

29
Jul
2014

Data Integrity: A Necessity, Not an Option

Contributor:

A version of this blog post originally appeared in Wall Street & Technology. Author: Jason Finley, technical analyst, SunGard’s brokerage business As the saying goes, ‘garbage in, garbage out.’ For financial firms, proper data integrity and the results data can produce are more important now than ever to reduce risk, since incorrect or inconsistent data can lead to false conclusions and misdirected investments. With the number of exchanges, content and formats increasing every day, the data integrity job becomes more laborious and complex. In addition, increased regulatory compliance and the need for more transparent reporting means the accuracy of the data is more important as well.... read more

28
Jul
2014

How is the Case for Managed Services in Risk Management Ripening?

Contributor:

A version of this article was originally published on GARP. Managed services are commonly defined as a broad range of third party business and IT services including business process as a service (BPaaS), business process outsourcing (BPO), cloud services and hosting. Across financial services, the resounding industry theme is increased consumption of managed services over the next 12-18 months as way to address budget pressures caused by the cost of regulatory compliance.... read more

7
Jul
2014

Lewis on Lending: Changes Continue in the Industry – Some Less Subtle Than Others

Contributor:

The June issue of the Securities Lending Focus noted the changes going on in the securities lending industry, such as the emergence of the central counterparty model and the future implementation of trade repositories. This month, we continue to look at the changes in themes and nuances of how the industry views itself, and importantly those stakeholders on the outside view the industry.... read more

10
Jun
2014

Investor Protection: The Next Focus of Automated Compliance and Surveillance Systems

Contributor:

The European Securities and Markets Authority (ESMA) is turning up the heat on national regulators to enforce and monitor MiFID conduct of business rules, where Article 37 of the MiFID Implementing Directive aim to ensure that firms 1) sell only suitable products to their clients and 2) feel comfortable that clients can afford them and understand the associated risks. The latest example is ESMA opinion 2014/146, which addresses investor protection measures for the sale of complex products to retail customers. ESMA defines complex products as any contract that is a derivative, contains more than one leg, is priced based on a non-mainstream index, or has barriers to exit. Such a broad definition means that the investor protection measures will affect a large number of brokers across Europe.... read more