The past five years have seen unprecedented change in global capital markets. Buy-side and sell-side participants, custodians, market infrastructure and financial technology providers have all had to reassess their strategies, business models and risk frameworks. Today we find ourselves at a critical juncture. A new structure for the capital markets industry is emerging.
In our report, The Capital Markets Industry: The Times They Are A-Changin’, published in collaboration with SWIFT, we identify the forces causing this change and consider what their impact on both the value chain (e.g. execution, clearing, custody) and market participants will be. We focus on three key questions:
- Where and how fast are market forces causing shifts in value creation?
- What implications do these shifts have for risk management?
- Who is best placed to serve the wide-ranging needs of the industry in 2020 and beyond?
