Technical specialist for a requirements and strategy to consolidate the Central Securities Depositories in the United Arab Emirates.
Central Clearing & Settlement Organisations, CSD & CCPs Projects
Asian Development Bank – Asean Markets Integration Strategy*
Lead advisor a capital markets development strategy and plan for 9 major markets in the East Asian region, commissioned by the Asian Development Bank as part of a financial markets strategy review.
Bombay Stock Exchange – CSD Design*
Developed a detailed business requirements specification for a fully automated, dematerialised central securities depository and its interfaces to trading, clearing houses and other Indian depositories. This covered all functions for a hybrid materialized / immobilised market with high volumes of trading.
British Telecom Syntegra – CREST*
Project Managed a 12 month assignment to provide strategic advice, market development and bid winning to Syntegra, the systems integration business of BT, Britain’s largest company. The main initiative was to raise Syntegra’s profile in the City if London and to win the participant network elements of CREST, the new clearing and settlement system for the UK equities market. This project involved close contact with board level Syntegra management and senior management at the London Stock Exchange, the Bank of England, Securities and investment Board, the CREST Steering Committee and UK market participants. Managed a multi-disciplinary team of 12 specialists.
CCP Genesis Advisory Consortium – CCP
Advisory alliance in conjunction with Thomas Murray (the world’s most comprehensive online database on Custodians, Post Trade Infrastructure and CSD Risk Ratings) and DLA Piper LLP (the world’s largest law firm), to provide advisory services to CCPs, Regulators and market participants on all aspects of CCP Business Strategy, Risk Management, Regulatory compliance and systems and procedures.
Central Bank of Albania – GCSD Design
Advised on a Roadmap for the design, procurement and implementation of a Government Securities Depository for Albanian fixed income instruments. Liaised with the National Bank of Albania senior Directors, the Regulator and the Ministry of Finance. Wrote a detailed RFP for a new Government Securities Settlement System / CSD.
Colombo Stock Exchange – IT Strategy*
Review of IT Strategy for the CSE in Sri Lanka looking at Trading and CSD business and IT strategy. Reviewed the Millennium Exchange trading system and the CSE’s in-house CSD system.
Czech Centre for Securities, SCP – CSD Strategy*
Prime contractor for a detailed business and system requirements and strategic development report for the Czech Centre for Securities, the Central Securities Depository containing over 3000 securities and 7 million accounts. This project involved contact with all central market institutions, major domestic and foreign securities firms, regulators and investment institutions. Questionnaires were also sent to over 100 Czech participants. Comparisons were made with major depositories and registrars in Europe including visits to Euroclear, VPS and Lloyds Bank Registrars who were sub-contractors on the project.
Deutsche Börse Systems/Deutsche Kassenverein*
Project managed a 3 month feasibility study for the future development of clearing, settlement and depository functions within DBS (Deutsche Börse Systems). This included both business and technical requirements, managing a team of 5-10 consultants and liaising with client management from both DBS and DKV. The study concluded in the prime contractor IBM/Cimad Consultants being invited to tender for the next-phase development and implementation project.
Hewlett Packard – Back Office Systems*
Developed a capital markets & back office strategy for one of the world’s largest hardware manufacturers – the foremost supplier of systems to exchanges worldwide. The 3 strategies covered; clearing and settlement systems, broking systems and CREST software marketing.
Hong Kong Exchanges & Clearing – Strategy Overview*
Presentation of a next generation Clearing and Settlement model, developments in Straight Through Processing and considerations for scripless settlement to the Directors of HKEx, in conjunction with Compaq Hong Kong.
ING Capital Markets Prague – Counterparty Risk*
Carried out a detailed Operational Risk Management based review of the processes for all local trading, clearing and settlement operations in the Czech securities market. This covered all procedures performed via the Prague Stock Exchange, RM-S and off-market trades through the Czech Centre for Securities. A risk analysis computer tool (PROCAM™ – Process, Risk, Occurrence, Control, Analysis, Model) was developed and used to perform the work.
NASDAQ OMX Europe – CCP Selection
Project Manager for the establishment of the NEURO equities trading Market, which included the evaluation of CCP organisations; EMCF (Fortis), LCH, X-Clear and Euro CCP and final selection.
Polish CSD, KDPW – Development*
Advisor to senior project management on the project management and development of a custom solution to a new technology, multi-instrument, clearing, settlement, depository and risk management system for securities and derivatives. Also developed a new approach to Operational Risk Management for CSDs.
Rabobank – Custody & STP*
Business analysis of custody processes and SWIFT message flows in a complex custody environment in Rabobank, a AAA rated financial institution. Designed the new business processes to be implemented in a messaging middleware solution for Straight Through Processing, working closely with Custody users and technical specialists in Utrecht.
Romanian National Securities Commission – Exchange Merger*
Reviewed the project status of the proposed merger between the Central Securities Depository at the Bucharest Stock Exchange and the National Securities Clearing and Settlement Depository (SNCDD).
Russian Federal Securities Commission – CSD Integration*
In consortium with Price Waterhouse Moscow, Project Managed and technical analyst for a detailed strategy to consolidate of the Central Securities Depositories in the Russian Market and create amendments to the legal infrastructure. Managed a team of business and legal specialists and interfaced with the Russian Securities Commission, Central Bank, CSDs, Registrars and Stock Exchanges. Defined a detailed ownership and integration strategy.
Tallinn Stock Exchange – Post Trade
Review and advice on clearing and settlement procedures and Guarantee Fund. Detailed review of the RTGS systems specification on behalf of Stock Exchange management.
Tanzania – Capital Markets & Securities Authority*
Specification, design and training for the depository, clearing and settlement infrastructure for the Tanzanian capital markets.