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SWIFT collaborates with ISSA on three major reports on securities markets

SWIFT collaborates with ISSA on three major reports on securities markets

2 November 2018

New reports provide insights on cyber-security, infrastructure for crypto-assets and regulatory developments in the securities services industry.

ISSA and SWIFT issue major reports on securities markets

The securities services industry is experiencing disruption and growth, triggered by many factors including regulation, the threat of cyber-attack, and the emergence of new asset classes, including crypto-assets. 

To examine the significance and implication of these trends, ISSA (the International Securities Services Association) have released three new reports. The first takes stock of how industry participants have adapted to increased regulatory oversight following the 2008 financial crisis. The second two look to the future and  highlight the role that securities market participants should play in managing risk related to cyber-security, as well as supporting and enabling the establishment of cryptocurrencies as a new asset class.

Regulatory developments in the securities services chain’ is a follow up to a report initially released in 2017, focussing on how the securities services industry has adapted to intensified regulation enacted since the 2008 crisis. This report considers how internal organisations, operating processes, and business models have significantly evolved in the wake of increased risk management and regulatory oversight.

Cybersecurity risk management in securities services’ details cyber threats and vulnerabilities specific to participants in the securities services industry. From straightforward theft of an asset to more sophisticated data-ransoming operations, this report examines these threats and makes pertinent suggestions on how managers can mitigate against them.

Infrastructure for crypto assets: A review by infrastructure providers’ looks at the momentum behind establishing crypto-assets (cryptocurrencies) as a new asset class, and the potential economic benefit to firms servicing securities. This report also lays out why financial market infrastructure participants are uniquely positioned to serve, support, and enable growth in this new market, as well as to centralise the treatment of crypto-assets.

SWIFT plays an active role in supporting ISSA, with a seat on the Executive Board and Operating Committee, and by taking part in various ISSA working groups. ISSA’s mission is to contribute to developing and promoting forward-thinking solutions that create efficiencies and mitigate risk within the global securities services industry; bring together influential securities services leaders, regulators, and other industry stakeholders to foster international coordination and collaboration across the securities services industry; and facilitate and stimulate active communication among all industry stakeholders.

Regulatory Developments in the Securities Services Chain
Cyber Security Risk Management in Securities Services
Infrastructure for Crypto-Assets