Nick took part in a panel discussion entitled ‘Stakeholders in the T2S Project: What Do They Want; What Will They Get?’ Nick commented specifically on the recent release of the GFT and the ICMA European Repo Council industry-wide survey which assessed the market preparedness and industry attitudes towards T2S. The survey results provided insights on industry participants’ current understanding of T2S, their level of practical engagement and their understanding of the consequences of T2S to their individual firms. Nick stated that “Operationally everyone see’s the benefit of T2S surrounding harmonisation.” Nick added that the real key benefits would be “Reduced counterparty credit risk, a great liquidity environment and a fast flowing and free flowing market.”
Nick also spoke about the potential impact T2S would have on collateral. Nick declared that it “Could only be good for collateral, especially from an operational point of view” and that “Sourcing the collateral will also be a lot easier with T2S and is good for Europe as a whole.”
Afterwards Nick commented on the panel discussion and the event as a whole saying that:
“I enjoyed representing GFT for the first time on a panel. The among which addressed the state of understanding within the market, the market participants state of readiness, potential unintended consequences, and those areas of T2S which may have been improved upon. In general, there was good support for the harmonisation of the European markets the removal of Giovannini barriers, and the opportunities that arise from that. There was some positive informal feedback on the day on what was an interesting panel which I hope the audience found informative, there was some differing opinions, which were presented eloquently and with good humour.”
Nick was recently appointed by GFT as a Principal Consultant, focussing on Business Architecture and Process Re-Engineering. Nick brings over thirty years of experience in investment banking and capital markets, working in prominent roles across front, middle and back office functions. Prior to joining GFT, Nick spent 32 years at Credit Suisse where he worked in liquidity management, collateral optimisation and business re-engineering roles. Nick has also been instrumental in creating Target Operating Models for tier 1 banks and consulting banks with their migration and entity rationalisation programmes.