James T. Crowley’s Post

FMIs Leading the Way: Financial Market Infrastructures (FMIs) like DTCC, Clearstream, and Euroclear are taking a leading role in driving the adoption of distributed ledger technology (DLT) and digital asset securities (DAS). Digital Asset Securities Control Principles (DASCP): The FMIs have collaborated to develop the DASCP, a comprehensive risk and control framework for digital asset securities. Goals of the DASCP: The DASCP aims to outline a safe and efficient ecosystem for DAS, identify potential risks, and provide recommendations for controls to mitigate those risks. Key Principles: Legal certainty and regulatory compliance Resilience and security Safeguarding customer assets Connectivity and interoperability Operational scalability Industry-Wide Engagement: The DASCP is intended to be the starting point for further industry collaboration to enable standardisation, drive adoption, and unlock the value of DAS. Transitioning Stewardship: The FMIs plan to transition the stewardship of the DASCP to an industry association to ensure broader engagement and alignment within the ecosystem. Implications for Firms: Enhanced Risk Management: Firms can leverage the DASCP to identify and mitigate risks associated with DAS, improving their risk management practices and enhancing the security of their operations. Regulatory Compliance: The DASCP guides ensuring compliance with existing and evolving regulatory frameworks, helping firms navigate the complex legal landscape of digital assets. Increased Adoption: The DASCP can help accelerate the adoption of DAS by providing a clear roadmap for implementation and addressing concerns about security and risk. Improved Interoperability: The principles promote interoperability between platforms and systems, facilitating smoother transactions and interactions across the financial ecosystem. Increased Trust and Confidence: By adhering to the DASCP, firms can demonstrate their commitment to security, risk management, and regulatory compliance, building trust and confidence among investors and stakeholders. Industry Collaboration: Firms are encouraged to actively participate in the ongoing development and refinement of the DASCP, contributing to the establishment of industry-wide standards for digital asset securities. Overall, the DASCP is a valuable resource for firms navigating the rapidly evolving landscape of digital asset securities. By embracing these principles, firms can unlock the transformative potential of DLT while ensuring the financial markets' safety, security, and integrity. #dtcc #euroclear #bgg #digitalassets

Tokenization of Real-World Assets: To this end, BCG has collaborated with three of world’s leading financial marketplace infrastructure players—DTCC, Clearstream, and Euroclear—to develop an industrywide risk and control framework that can serve as a guide for navigating the current set of challenges. The intention is for the framework to underpin an inclusive, resilient financial ecosystem that is adaptable to technological advancements and responsive to diverse market needs. It contains three levels that outline key principles, more than 30 risks, and development of more than 50 controls. The framework is presented in a new whitepaper, “Building the Digital Assets Ecosystem.”, covering 6 topics. Full details: https://lnkd.in/gpGhmEf7 #tokenization #RWA #DigitalAssets

'Digital maturity gap in financial services has grown wider' #DigitalTransformation #FinTech #FinServ #Investing #WealthTech #WealthManagement

Delve into the transformative world of financial services with an insightful article by Mr. Subhash Chandra Acharya , Seeds Fincap Private Limited , titled "Empowering Financial Services: Embracing Digital Innovations," recently published by Money9. Dive into the dynamic realm of finance as we explore how digital innovations are shaping the future of the industry. .. .. Read More : https://lnkd.in/gGTwRK-h .. .. #digitalinnovation #DigitalIndia #FutureTech #DigitalTransformation #Seedsfincap #Seedians

Interesting update on the CTP from Dan Barnes at The DESK "Three firms have confirmed they will compete to be consolidated tape providers (CTPs) for UK and European capital markets, with another three uncommitted and two erstwhile providers now ruling themselves out of the race." Our focus is to provide the technology, leveraging our existing infrastructure. "TransFICC is looking to join a consortium while providing the technology for the CT alongside partner firms that can manage compliance and governance." https://lnkd.in/e2CuJyEr #consolidatedtape #ctp #fixedincome #fintech

The financial technology industry is undergoing a spectacular change propelled by the integration of cutting-edge technologies.

By some estimates, the market for digital asset securities represents a $16 trillion opportunity. We are in the midst of rapid evolution in distributed ledger technology (DLT) and digital asset securities (DAS), but still face significant challenges https://lnkd.in/g6imQYgb #DigitalAssets 

“Start tomorrow, if not today. Do not attempt to buy any more time.” This week, our Director of Global Support Solutions Julian Trostinsky spoke with The Financial Revolutionist about the implementation of T+1 in the US, which is fast approaching in May. “No matter how you look at it, it’s about automation. You will most likely not be able to deliver what T+1 demands in a manual way: You will miss deadlines, and you will be charged some fines due to the fact that you’re missing those deadlines.” #DigitalTransformation #Compliance #FinancialTechnology

How Mutual fund distributor are ignoring Data Security? Which is unthinkable but that is happening across the MF Industry. Is it to do with Computer illitracy among the large section of MFD or commercial competitiveness or some thing else. Read the article at www.webclass.in #financialadvisor #mutualfunds #computerscience #fintech #fintechsolutions https://lnkd.in/gWhbRByZ

Discover how Managed Service Providers (MSPs) are levelling the playing field in finance, allowing smaller firms to compete with industry giants. Jeff Mezger of Transaction Network Services explains the benefits of MSP partnerships that enhance access, compliance, and market entry. #trading #tradingcode #MSP #markets #institutionaltrading #fintech https://lnkd.in/eDuYGPrV