The World Federation of Exchanges (WFE) Focus Team interviewed DTCC总裁、首席执行官 and Director, 弗兰克·拉·萨拉, to get insight about notable achievements in 2023 as well as the opportunities, initiatives and challenges we expect to navigate over the next 12 months.
在过去的一年里，DTCC的业务发展如何?
In 2023, DTCC celebrated its 50-year anniversary as a trusted steward and industry partner in safeguarding the global financial markets. Important moments like this are as much about reflection as they are about preparing for the future. 为公司的长期成功奠定基础, we executed an action plan grounded in our vision to lead the advancement of the global financial markets as the most influential, strategic, 以技术为重点的合作伙伴.
相关:DTCC对收购security的评论
在我们的首要任务中, we refreshed our corporate strategy and updated our strategic positioning and cultural framework. We also reorganized our company to align around products, platforms and clients. 我们更简单的, integrated organizational structure is enabling us to work more efficiently, 推动更大的创新，更快地响应客户需求. We also successfully executed a corporate-wide program to foster enhanced expense management, which demonstrated to our clients that we’re empathic to the financial pressures they’re experiencing. In addition, it enabled us to sharpen prioritization and create capacity to drive long-term growth.
2023年我们最重要的成就之一就是 证券的收购, a leading developer of institutional grade digital asset infrastructure. This transaction is a gamechanger because it positions our company to drive market-wide transformation and assist our clients on their digital asset journeys.
2024年DTCC最大的机遇是什么?
We’re seeing transformational change to financial market structure in the 美国. Most notably, on May 28, 2024, the equity markets in North America will transition to T + 1结算, a move that is expected to reduce counterparty credit risk and decrease cost as a result of lower clearing fund requirements. T+1 is also expected to enhance operational efficiencies by encouraging firms to automate manual processes and adopt industry standards and best practices. We’re continuing to work closely with our clients and the industry to test systems and processes to ensure readiness and a seamless transition.
此外，既然美国证券交易委员会已经发布了正式的规则 U.美国库务结算，我们已开始积极筹备实施工作. This mandate will significantly transform Treasury market structure, 规范风险管理, 降低结算风险, 集中默认管理并增加透明度. We’re continuing to support the industry through education efforts, by evolving our access models and providing solutions that will help enable compliance with the expanded rule. 同时, we’ll continue to lead discussions and provide education around the implications of this mandate to ensure a successful implementation for the industry.
此外, 随着行业进一步拥抱代币化, we see a significant opportunity to leverage the new capabilities we’ve gained through our 证券的收购 to help drive consensus on standards, processes and governance and determine the right architecture to establish a robust infrastructure where digital assets can be exchanged in a safe and compliant manner.
As you proceed with these initiatives, what obstacles will DTCC need to overcome? 你打算如何应对这些挑战?
The consensus across financial services and businesses more generally is that we’re confronting an unprecedented set of risks in 2024. 地缘政治风险 is the most significant as ongoing and escalating conflicts can potentially disrupt the markets and supply chains. Inflation also remains a top risk despite monetary policy changes to ease its impact. In addition, growing cyber threats and the uncertainty in the U.S. 2024年美国大选的政治格局和结果.S. presidential election are dynamics that all businesses need to prepare for and manage.
Related: Learn more about key findings from the 2024 Systemic Risk Barometer
DTCC assesses the potential impact of these risks to operational resilience and financial stability and advises clients and other stakeholders to do the same. It’s critical that all firms regularly review and adapt their risk management practices to the changing risk landscape. 这包括进行情景规划练习, 实施现代化的业务连续性, 恢复和恢复能力, and continuing to educate employees on managing the material risks that can impact their companies. Everyone has a part to play in managing risk, and awareness is the first step.
2024年最让你兴奋的是什么?
DTCC’s vision is to be a strategic partner to our clients and the industry, 这就要求我们进一步提升我们的组织. DTCC在金融市场中发挥着独特的作用, and we’re helping lead some of the most significant changes to market structure that we’ve seen in decades. These opportunities compel us to think from our clients’ perspectives and strategize on how we can fulfil their needs effectively, exceed their expectations and help them solve issues to achieve their business objectives and grow. 2023年是我们为未来打下基础的一年. 2024年将是执行之年. 我们致力于为客户提供无缝的服务, and I’m excited about the journey and the outstanding team at DTCC that that will get us there.
本文最初发表于 WFE 2024年1月9日.