27/09/2021 by wendy gallagher 0 Comments
What it will take to tokenize the securities markets
A FUTURE OF FINANCE WEBINAR WITH CUSTODY BANKS, SETTLEMENT ORGANISATIONS, SECURITIES INDUSTRY PROFESSIONALS AND DIGITAL ASSET PROFESSIONALS
Wednesday October 20 2021, 14.00 - 15.00 UK time
Projections put the size of the security token markets at US$8-9.5 trillion within just four years. That is bigger than the US$7 trillion invested in the privately managed asset markets that are presently seen at the most promising axis of growth for the tokenization industry. The rewards are easy to list. A lower cost of capital for issuers. Increased liquidity, and access to a wider range of asset classes, for investors. Automation of costly asset servicing by smart contracts. Faster completion of customer due diligence checks. Lower transaction costs, thanks to disintermediation. For the most part, security tokens fit comfortably within the existing securities market regulations in major financial markets. The technology to support issuance, secondary market trading and post-trade servicing is in place. Service providers, from trading platforms to custodians, are open for business. Yet the actual number of issues remains remarkably small and tightly concentrated in a handful of sectors and geographies. The sums raised have fallen far short of expectations. This webinar will seek to explain why an industry on the cusp of explosive growth is failing to detonate, and what it will take to make security tokenization happen.
The topics to be discussed will include:
1. How strong is the case for security tokens?
2. What will encourage the security token markets to take off?
3. In which asset classes will growth be fastest?
4. What has the trading of listed stocks in tokenized form taught investors and regulators?
5. Which intermediaries in the securities markets of today are most at risk?
6. Is the speed and scalability of blockchain technology an inhibiting factor?
7. Is regulatory uncertainty still a problem?
8. What contribution can international regulatory standards make?
9. How can liquidity best be built into security token markets?
10. How important is custody to investors?
11. How will security token offerings comply with KYC, AML, CFT and sanctions screening obligations?
12. What do institutional investors need to invest in security tokens?
Neil Chopra Director, Business Solutions at Fireblocks
Neil advises banks and fintechs on creating and scaling digital asset products and services. Prior to joining Fireblocks, Neil spent three and a half years at Ripple, working with banks and fintechs on creating next generation global payment offerings, and leveraging digital assets as part of their global treasury management processes. Neil’s experience before entering the blockchain and crypto space was focused on working with large multinational corporates on process design and technology implementations within their treasury functions, including cash and liquidity management, payments and hedging.
Jack McDonald CEO at Polysign
PolySign, Inc., is an institutional-grade custody and settlement platform for digital assets. Prior to PolySign, McDonald was a Managing Director at SS&C / Conifer. From 2015 to 2016, he served as the President and Chief Executive Officer of Conifer Financial Services. From 2008 to 2014, he served as the President and Chief Executive Officer of The Conifer Group, LLC. Before joining Conifer, Mr. McDonald spent five years with UBS Investment Bank, where he was a Managing Director responsible for the institutional equity business for UBS’s western region. Mr. McDonald started his career in finance with Schroder’s in New York as a Vice President of institutional equity sales.
Rajeev Tummala Director, Securities Services' Digital team at HSBC
Rajeev looks into digitalization of asset representation, digital assets and tokenisation and the transformation programmable assets bring into the Securities Services domain.
David Dalton Partner, Deloittes
David is a senior partner and Deloitte’s financial services industry leader in Ireland. David is a member of the Global FSI Consulting Executive and is the Investment Management Sector global consulting lead. David has over 30 years of strategy and business consulting experience. David’s professional experience is focussed on business strategy development, operating model design and managing large scale
business change programmes and leadership. David’s clients experience includes BNY Mellon, HSBC, Bank of Ireland, Citi, Bank of America, US Bancorp, State Street and AIB. David also Deloitte’s Global Blockchain program in Financial Services including the EMEA Blockchain Lab in Dublin. He was recently a member of the Irish Government’s Industry Advisory Council for International Financial Services.
Olaf Ransome Head of CSD Function, SDX
Olaf is the Head of the CSD Function at SDX. His focus is on all matters custody cross the digital asset spectrum. He is also known as the The Bankers’ Plumber. In the last 11 years, Olaf has consulted to banks and FinTechs to help them master their processing; optimising control, capacity and cost. Previously, Olaf worked at both Credit Suisse, Goldman Sachs, and Salomon Brothers where over the course of over 20 years he worked in Operations, Custody, Private Banking, Operational Risk, Transaction Banking, Islamic Finance & Prime Brokerage. In that time, Olaf has worked in London, New York and Zurich, which is where his home is now.
Moderated by Dominic Hobson Co-Founder at Future of Finance
Dominic Hobson has worked for himself for 30 years. He was one of the founders of Asset International, a transatlantic financial publishing, events and survey business, which was sold in 2009. Since then, Dominic has contributed to the work of two data businesses covering financial markets, run a peer group network for hedge fund managers, and co-founded the Future of Finance, which hosts events on innovation in finance. As one half of Hobson Cardew, Dominic also provides consultancy services to a number of financial services businesses and market infrastructures.