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Thanks for the comment Stanley

Yes your right data quality is a very big issue and why searching and sifting will be very important.Ways to consolidate the data required is equally important to reduce costs and risks

I am afraid up and down the ranks of Investment Banks you will find equal casual blindness. I can tell you that after each of this mass breakdowns within every bank there will be a root and branch internal cleansing process where they will satisfy that they a good and clean. That is until the next time. There is a greater problem than systems or casual bankers to fat on bonuses to do their job. When will the culture be examined and dealt with and by who? Banks dont appear up to it

T2S must be made to work. We have seen how SEPA can be slowed to a virtual stanstill by banks and the same tactic is being used again. Like SEPA maybe legislation may be needed to push it into life 

Not sure we know enough about the UBS fraud to say if mobile recording would have had any impact. The truth is that over years and god knows how many similar situations rogue trader still find a way of getting through barriers. I am now thinking that systems can take you so far but we need to look beyond and more deeply into causes

Nothing changes here then. After decades of trying the industry must accept that without changes in market structure the SI problem will remain. Investment firms still expect their brokers to pick up the tab and sort out the problems and they do not see why they need to spend money on systems. Anyone remember the massive mess that was GSTPA? 

No suprise here then. The Post Trade Forum debate hosted by the London Stock Exchange and organised by Finextra will debate outsourcing against internalisation and no doubt the vote will be enlightening as will the healthy exchange of views by the panel and a packed audience

I am afraid that Banks and Corporates will have greater priorities than SEPA. By 2014 there might not be a number of banks still arround as the debt crisis will still be with us

Will Banks really have motivation or do what they have been doing for years and stall

Well done this is perfect for the market and i look forward to seeing the impact on risk reduction and of course costs

Great move by SmartStream and certain to win the attention of plenty of firms. I look forward to asking questions about this at the October Post Trade Forum debate when SmartStream join the panel

Sounds so familier. Your right the economic situation will be a very big motivator and challenge the desire to retain legacy. So far many have said thar security is a stumbling block but this has proved wrong in the past with web useage and will do so again with the Cloud