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Meaningful data products: Custodians enhance their solutions
Client requirements are fundamentally changing, and this is forcing custodian banks to think more laterally about how they deliver services to customers. Increasingly, custodians are scoping out new ways of sharing meaningful and thoughtful data sets with clients as seamlessly as possible through an array of different transmission methods, including application programming interfaces (APIs) and SWIFT, among others. This paper outlines some of the data solutions that custodians are developing, together with how clients are benefiting from them in areas such as settlement efficiency, market access, and environment, social, governance (ESG) investing. The paper also notes, however, that data solutions are not without their challenges. Custodians’ banks will need to ensure that the data they disseminate to clients is accurate, secure, and is not so detailed that it completely overwhelms the end users. Elsewhere, the absence of comprehensive data regulation has prompted some market participants to push for the adoption of data standards, but this is not straightforward. A balance is, however, required on standardisation so that it does not undermine innovation, a theme that the paper explores in depth. This paper is essential reading for market leaders in the custody world who are looking to strengthen and deepen their data capabilities for clients.
The full article is available to institutions that have subscribed to the journal.
Ryan Cuthbertson is Head of Product Management for the Standard Chartered Bank Securities Services. Ryan has almost 25 years’ experience in the securities industry, having worked in a variety of roles in Australia, Singapore, UK and Hong Kong. He has held several senior roles focusing on the evolution and transformation of post-trade within capital markets. In his current role, Ryan has a focus on technological enablement for global banks, broker-dealers and asset managers and the variants that can lead to efficiencies and scalability. Prior to that, he worked for international banks and equities brokers in many operational and client-facing roles.