Join the Community

21,703
Expert opinions
43,989
Total members
483
New members (last 30 days)
185
New opinions (last 30 days)
28,596
Total comments

Latest expert opinions

clear
clear
Gary Wright

Gary Wright Analyst at BISS Research

Who's on first, What's on second Identity Standards

Like the old Abbott and Costello routine, [when Lou Costello is considering becoming a ballplayer and Bud Abbott wants to make sure he knows what he's getting into] there can be huge confusion and mishaps if there is ambiguity in the identity of who’s involved in a transaction. For those that may not be familiar with this running gag, the (slightl...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

SWIFTs future role in financial markets

The news that SWIFT is not going to be the registration authority for LEIs is ultimately a good thing for SWIFT. As the finance industry changes and new technologies emerge, it’s inevitable that SWIFT will also change. It has been changing over recent years, becoming far more commercially aware and has moved into creation and development. Sometim...

Gary Wright

Gary Wright Analyst at BISS Research

The Future of European Clearing and Settlement

The pace of change in European financial markets is enormously fast if measured against a barometer of historical change. As we all know laws and regulations as a result of political agendas is the power that is driving most of the change but there are also market forces at work, which are creating a new structure for clearing and settlement in Eu...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

Regulatory Assassins

I have written and talked much this year about the central clearing of OTC derivative products and have mainly taken a shaking head stance of sheer disbelief of what the politicians and the regulators are doing to this part of financial services. Why would I take any other view? Well, my point of view predetermines that the attempts to reform OTC ...

Gary Wright

Gary Wright Analyst at BISS Research

Risks in shortening the settlement cycle

Years ago when the UK markets moved from T+5 to T+3 there was plenty of research about the benefits gained in risk reduction. There was doubt about the actual risk benefits because although there was obviously a reduction in possible default risk and market risks, there was a considerable increase in settlement failures and all the risks a...

/regulation Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

Data challenge for T plus 2

Any shortening of the settlement cycle is clearly going to tax operations to complete all the tasks necessary to settle only two days after trade date. I remember being head of operations when the move from account settlement went to ten day rolling then five day and then the three we have today. Each change came with its own problems with technol...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

The madness of taking liquidity out of the market

As the world struggles for economic growth there is a weird onus on restructuring the markets and wrapping massive amounts of legislation and regulation around managing risks. It’s a knee jerk reaction from politicians desperate to show voters that they are doing something to stop any reoccurrence of the financial disasters first seen in 2007. It’...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

Moving towards real-time confirmations

The world like Premiership footballers, we are told, is getting faster. Speed today appears to be the essential element in providing services and executions. For years the race in front office dealing systems has been to extract every possible miniscule time element out of the transaction executing process. Latency is a bad word and financial inve...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

Payments within T plus 2

As far as we know, today, the European Markets will be moving to a T+2 settlement cycle by the 4th quarter in 2013. This is a precursor harmonisation, necessary for the implementation of T2S in 2015. Sounds ok, but there are masses of operational and system concerns that firms will need to satisfy, if either T+2 or T2S will be able to be a...

Post-Trade Forum

Gary Wright

Gary Wright Analyst at BISS Research

Is T2S still relevant?

Way back in 2006 the idea of T2S became a reality. In the years since the creation of the Euro, the European securities markets have continued to lag badly behind the European project to create a single financial market. Unfortunately, this is still the case today, with severe settlement drag, as each country operates different and very varied, cl...

Post-Trade Forum

Now Hiring