CorpActions Europe 2011: Taking asset servicing & corporate actions efficiency to the next level

Chairman’s introduction
State of the nation update. A review of the current situation and an outline regarding how the day of panels, presentations and breakouts can add real value.

Justin Chapman, Senior Vice President, Global Head of Industry Management, Operations and Technology, Northern Trust

Keynote presentation: Regulation: a necessary evil?
  • What impact will the current range of regulatory change have on the corporate actions business?
  • Is regulation having a positive or negative impact on firms’ efforts to improve asset servicing efficiency?
  • Is there enough regulatory focus on corporate actions processing and related activities?
  • Without explicit regulation mandating change, will we ever reach our corporate actions efficiency goals?
  • Systemic risk and Corporate Actions – do they belong in the same sentence ?
  • Without a regulatory stick – what are the corporate action carrots?
Gert Raeves, Research Director, Capital Markets, Tower Group

Panel 1: Is the front office waking up to corporate actions?
  • What impact do corporate actions have on the activities of the front office?
  • Is this impact increasing in light of intensified focus on risk management and growth in automated trading?
  • Is the front office getting what it needs in terms of corporate actions information in today’s environment?
  • What else needs to be done to give the front office the insights it needs?
  • Is increased front office interest in corporate actions helping or hindering industry progress towards STP?
Chris Hall, Editor, The Trade
Joseph Haddock,CFA, Bloomberg
Gert Raeves,
Research Director, Capital Markets, Tower Group
Adam Stern, Managing Director, IBACAS Consultancy Limited
Additional speaker TBC

Presentation: Target2Securities (T2S)
Charting its impact on corporate actions
  • T2S: what is it and why is it happening?
  • What will it do for corporate actions?
  • What will it not do for corporate actions?
  • What threats and opportunities does it create?
Hugh Simpson, Senior Adviser to the European Central Bank, Bourse Consult

Refreshment Break

Panel 2: Are we nearly there yet? Why we still haven’t achieved STP for corporate actions?
  • The industry has been focusing on improving corporate actions efficiency for over 10 years – so why is there still so much work to do?
  • How far have we got – really?
  • Where are the gaps, and why are they still there?
  • What needs to happen to fill them?
  • Are the tools for the job available – or are others needed?
Adam Stern, Managing Director, IBACAS Consultancy Limited
Colin Webb, Senior Manager, Corporate Actions, FIL Investments International
Mark Davies, Head of Investors and Intermediaries, Standard Chartered Bank
John Kirkpatrick, Managing Director - Global Asset Servicing Citi Global Transaction Services
Harry S. Rana, Senior Business Analyst, XSP
Simon Bennett, Independent Consultant

Breakout sessions [running in parallel]

B1: Standards and market practice (including XBRL) – how far have we got and what’s next?
  • XBRL Taxonomy for Corporate Actions has been released – what is the potential for EU markets?
  • How is XBRL being implemented for Depositary Receipts – status of the Pilot?
  • What is XBRL’s relationship with ISO 20022? With ISO 15022?
  • How is SMPG market practice injected into XBRL?
  • How does an XBRL tagging tool support the issuer?
  • How can the result be consumed by the industry? How does this help the investment side?
This is an interactive information session looking at advancements in consistency, quality, and efficiency applying standards and market practice definition and compliance.

The advent mandatory XBRL for company tax filings (e.g. UK), financial reporting (e.g. NL, US, JP), and bank/securities/insurance institutional reporting (e.g. EU) means a new technology is at issuers’ fingertips.

There is now a potential for leveraging this widespread XBRL investment to generate improvements in securities information from the source such as corporate actions and proxy announcements.

Session led by:

Max Mansur
, Global Program Manager - XBRL, SWIFT

B2: New Frontiers & Future Technologies – eg cloud computing, mobile. What impact will they have on asset servicing?

  • How are the latest technology developments – cloud, mobile et cetera – impacting corporate actions?
  • Are they relevant and where can they really help?
  • What needs to be done to build really useful solutions using these technologies?
Session is led by SWIFT's Innotribe with contributions from both the business and the vendor perspectives and a series of short demonstrations, including from XSP.

Participants include:

Gary Thompson Co-Founder and President, CLOUD Inc
Harry S. Rana, Senior Business Analyst, XSP
Peter Vander AuweraSWIFT Innovation team
Elena Migliore Market Manager, Asset Servicing, SWIFT s.c.r.l.

The ‘new technologies’ session is hosted by Innotribe, SWIFT’s initiative to enable collaborative innovation in financial services.

Innotribe events are built around an energising mix of education, new perspectives, collaboration and facilitation. Participants in this session will be able to learn from each others’ opinions, ideas and business models through interactive discussions about the potential application of technologies such as mobile and cloud in the area of corporate actions processing.

Networking Lunch

Panel 3: Corporate governance: impact of transparency in proxy voting:
  • Regulatory pressure to improve corporate governance is intensifying
  • What does this mean for the proxy voting process?
  • Are efficiency goals being met, or are there still challenges to be addressed?
  • What tools are needed to improve proxy voting efficiency – do we have what we need, and do we know how we’re going to implement?
Bob Currie, Editorial Director, fsr Financial Services Research
Helena Mahoney, Hermes Equity Ownership Services, Head of Client Relations, Hermes Fund Managers
Donald W Cassidy, Director, Corporate Governance Research, Fidelity International
Les Turner, Head of Operations, Global Proxy Distribution, ISS Governance
John Kernan, Senior Expert, Clearstream
Bruce A. Babcock, President, ICS International, Broadridge
Jai Baker, Senior Relationship Manager, Capita Registrars

Panel 4: Issuer panel
  • The asset servicing industry believes it has a clear proposition to draw issuers into STP efforts – but the issuers still don’t think we’re talking their language
  • What are we going to do about this?
  • How are we going to bring the issuers on board?
  • What is the problem – business case, available tools?
  • Can we develop the solutions, and who is going to do it?
Tine Thoresen, Editor, Inside Reference Data
John Clayton, Director, Product Management, Euroclear
Naz Sarkar, CEO UCIA, Computershare Investor Services PLC
Pierre Colladon, Senior Advisor for Strategy for Market Infrastructures, Societe Generale Securities Services
Peter Swabey, Company Secretary and Industry Leadership Director, Equiniti

Refreshment break

Panel 5: Reference Data – a utility approach for corporate actions
  • Reaching a compromise: how can the industry and regulators come together to define reference data standards for systemic analysis?
  • What will the costs be?
  • How can we learn from the failures of big infrastructures: past, present and future?
  • How does the area of corporate actions fit into the picture?
  • Are the ideal solutions commercial or utility-based?
Virginie O'Shea, Managing Editor, A-Team Group
Christopher Bannocks, Managing Director - Global Head of Enterprise Data Management, Nomura International
PJ Di Giammarino, CEO, JWG
Hugh Stewart, Sales Director, DClear, Smartstream
Max Mansur, Global Program Manager - XBRL, SWIFT

Panel 6 Looking towards CorpActions Europe 2012:
  • The imperative to reach asset servicing and corporate actions efficiency goals is as clear as it ever was – so how are we going to bridge the gaps we’ve identified to make a real difference within the next 12 months?
  • Are our STP goals achievable – or do we need to move the goalposts?
  • What are the priority actions?
  • Who is going to take them?
  • Can we do this in time, and will the picture look any different by 2012?
Paul Bodart, Executive Vice President, CEO of BNY Mellon SA/NV, Head of EMEA Global Operations, Bank of New York Mellon
Nick Scott, MD, Global Head - Global Asset Services, Deutsche Bank AG
Devesh Gupta, Global Product Head, Tata Consultancy Services,
L.A. Orloff, Product Manager, Asset Services, The Depository Trust and Clearing Corporation
Annette Brandt, Director, Product Management, Euroclear
Ulrich Stritzke, Head of Securities and Asset Services Operations, Credit Suisse AG

Chairman’s closing remarks:
A summation and a call to arms based on the key findings of the day.

Justin Chapman, Senior Vice President, Global Head of Industry Management, Operations and Technology, Northern Trust


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