Welcome to the May issue of WFE Focus.
In this month’s edition, we look ahead to our CCP & Derivatives Conference at the end of May – our first meeting in person since the pandemic began.
To get us started, both at the conference and in Focus, we have contributions from four of our erudite and knowledgeable speakers.
SIX Head of Clearing & Repo Operations José Manuel Ortiz looks at the implications of extending central clearing to new asset classes amid an industry debate on the path forward.
Dr David Murphy, visiting professor at the London School of Economics, writes of the ways a better margin model may be developed – an issue that attracts much thought and even more debate.
John McPartland, director of research at Hidden Road, discusses how having GSIB scores for clearing members might have prevented the harmful concentration present in the clearing space.
And Orly Grinfeld, head of clearing at the Tel Aviv Stock Exchange, explains how tokenised assets may transform securities trading.
We also celebrate an anniversary. The Stock Exchange of Thailand is marking its 48th anniversary and Dr Pakorn Peetathawatchai, president of SET and a much respected industry leader, writes evocatively of the exchange’s journey even as it looks to the future.
And finally – as we celebrate Earth Day, Nasdaq’s president of European markets, Bjorn Sibbern, and Fredrik Ekstrom, the head of European fixed income and ESG, talk about how the exchange is teaming up with Puro.earth to cut the climate footprint of corporates. Be sure to check out the video too.
See you next month for more.