DTCC Managing Director and Chief Client Officer
How will the coronavirus pandemic impact the shift to automation in key post-trade processes?
Black-swan events like the pandemic tend to spur operational changes designed to build defenses and help markets better weather the next crisis. Look at how firms overhauled their business continuity plans and dispersed critical functions across multiple sites in the wake of 9/11. Today, the pandemic has spurred a massive shift to work-from-home arrangements and also caused a contraction in global economic activity. In response, firms are seeking ways to streamline and simplify previously manual procedures so they can be performed remotely and to reduce operating costs to weather the downturn. Automation can help them meet both objectives. Certain activities are ripe for automation, so I expect we’ll see growing uptake of automation solutions for margin processing, collateral matching, exception management and SSI generation.