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Adaptation of CCP and CSD services for the new era
Journal of Securities Operations & Custody,
15
(1),
14-27
(2023)
Abstract
As the world is moving towards innovations and new technology to engage new customers and new expectations, central counterparty (CCPs) and central securities depositaries (CSDs) should consider not only maintaining their positions as financial market infrastructures for fostering market confidence, but also strengthening their roles and the services they provide and they should be ready to move with agility for any upcoming new experiences. This paper discusses how CCPs and CSDs should adapt so as to nourish their values in their traditional environment and also utilise their capability in order to move synchronously with new trends and technology. Four aspects are mentioned for consideration namely 1) increasing agility via good collaborations to cope with new environments and customer needs, 2) enhancing core businesses to maintain trusted entity roles, 3) preparing for local and global connectivity via international standard messages to support longer service hours and 4) embracing new technology to accommodate new products and services.
Keywords: CCP; CSD; adaption; trusted parties; harmonisation; synchronisation; DLT
The full article is available to subscribers to the journal.
Author's Biography
Pataravasee Suvarnsorn has 31 years of experience and expertise in the Thai capital market. Ms Suvarnsorn joined the Stock Exchange of Thailand (SET) in 1991 as a senior officer in the Strategic Planning Department, she then worked as the Deputy Vice President of the Trading Operation Department from 1998 to 2005, and as Head of the Clearing Department from 2005 to 2013. In 2018, she served as Senior Executive Vice President – Head of Operations Management Division. She is responsible for both core exchange functions, which are trading, clearing and settlement, central depository and registrar services, and for SET group's capital market support functions such as platform for end-to-end mutual fund investment (FundConnext), e-services including e-meeting and e-voting (e-meeting platform) and also payment infrastructure for capital market (FinNet). In addition, she has also been appointed as the Managing Director of Thailand Clearing House, a subsidiary company of SET. She holds a bachelor's degree in accounting from Chulalongkorn University and a master's degree in business administration, finance from California State University.
