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How a market infrastructure is developing in a competitive environment: Can new technologies be a differentiator?
The new operational and regulatory framework has had a direct impact on financial market infrastructures (FMIs) with the need to be a more client-oriented organisation, able to cope with increasing competition, and to take advantage of new opportunities to grow. This paper describes the journey that Monte Titoli is charting as a central securities depository (CSD) and the opportunity to leverage on new technologies to differentiate itself from the competition and be closer to clients. The introduction of new technologies has to be carefully planned holistically and requires a change of culture and behaviour. The first challenge is to disseminate a new culture and develop a bottom-up approach throughout the entire organisation. Technology is effective if it supports the business model, and that is what Monte Titoli has been addressing with the development of a three-year plan to introduce robotic process automation (RPA) for process excellence, to enhance efficiency, become volume insensitive and minimise operational risk and digitalisation in order to make better use of data.
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Alessandro Zignani joined London Stock Exchange Group in 2010 as General Manager of Monte Titoli, the Italian Central Securities Depositary, to support its development in the light of the entrance of T2S. In 2013 he was appointed Head of Business Development for Monte Titoli and CC&G. Prior to joining LSEG, Alessandro started in Citibank where he spent 11 years in Milan and London, holding different roles in securities services including product, sales and relationship management for domestic and international institutional clients. In 2000 he joined Unicredit Investment bank and was responsible for the setup of TLX, a bond-trading venue offered to retail banks. He was then given responsibility for the spin-off of TLX and its transformation into a regulated market. He was appointed Managing Director of TLX in 2002.