Opportunities and Risks from New Technology

Global investment banks are embracing opportunities to enhance the current operating environment, enabling firms to build out systems to meet global regulatory requirements, evolving client expectations and serving clients in jurisdictions they want to do business.

In order to take advantage of the opportunities in this developing environment, banks are prioritizing investment in technology and innovation. We look forward to working with policymakers and regulators, who have a key role to play here by promoting innovation and supporting the adoption of new technologies, whilst ensuring that future regulatory frameworks maintain a level playing field and promote integrity of capital markets and financial stability.

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Correspondence

GFMA and IIF Discussion Draft Principles Supporting the Strengthening of Operational Resilience Maturity in Financial Services

October 2019  |  Correspondence  |  White Papers and Reports

The Global Financial Markets Association (GFMA) and the Institute of International Finance (IIF) have released together “Discussion Draft Principles Supporting the Strengthening of Operational Resilience Maturity in Financial Services.” These principles support the financial industry’s efforts to continuously improve and strengthen the level of operational resilience for the firms, the customers, markets, the sector, and the broader economies they support nationally and across the globe.

GFMA and PwC Report on Technology and Innovation in Global Capital Markets

March 2019  |  Correspondence  |  White Papers and Reports

The Global Financial Markets Association (GFMA) and PwC have published a report on current trends in technology and innovation and their impact on the investment bank of the future. The report, entitled ‘Technology and Innovation in Global Capital Markets,’ examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policymaking.  

GFMA Financial Data Handling Principles for Banks and Non-Banks

February 2019  |  Correspondence  |  White Papers and Reports

GFMA has released its Financial Data Handling Principles for Banks and Non-Banks as a voluntary set of principles drawn from international best practices. The principles are based on both the U.S. NIST Cybersecurity Framework and the European Union’s General Data Protection Regulation (GDPR).

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Resources

GFMA One-Pager on LEI Requirements in the SFTR

October 2019  |  Policy Resource  |  Financial Market Infrastructure

The Securities Financing Transaction Regulation (SFTR) entered into force on 11 April 2019, with a phased-in compliance period. Compliance with the regulation requires that reporting firms provide their own LEIs as well as the LEIs of their counterparties. This document explains the requirement and the firms impacted.

GFMA/ISDA FAQs on Obtaining an LEI

October 2019  |  Policy Resource  |  Financial Market Infrastructure

This document provides answers to commonly asked questions regarding the LEI. Several regulators around the world require or are anticipated to require LEIs for transaction reporting and for other uses where clear identification of market participants is needed. Obtaining an LEI is a straightforward and efficient process.

GFMA March 2019 LEI Webinar FAQs

May 2019  |  Policy Resource  |  Financial Market Infrastructure

These FAQs have been prepared based on a GFMA LEI Webinar at which members of ESMA participated. The answers have not been reviewed or confirmed by representatives of ESMA and are not official legal or regulatory guidance. Firms should rely on independent legal and regulatory sources to plan their LEI programs, including compliance with the requirements of MiFID II and EMIR.

Agenda for GFMA FX Division Trading Venue Outreach (February 2019)

February 2019  |  Policy Resource  |  Foreign Exchange (FX)

This Trading Venue (TV) outreach will be to discuss operational challenges arising from FX Trading Venues’ Brexit planning and to share feedback on Trading Venues/banks needs and expectations in the planning process.

Agenda for GFMA FX Division Trading Venue Outreach (October 2018)

October 2018  |  Policy Resource  |  Foreign Exchange (FX)

This Trading Venue (TV) outreach will be to discuss operational challenges arising from FX Trading Venues’ Brexit planning and share information on Trading Venues/banks needs and expectations in the planning process.

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News

GFMA and PwC Identify Global Technology and Innovation Trends and Challenges for Investment Banks

20 March 2019   |   News  |  Capital Markets Innovation

Washington, D.C., 20 March 2019 -  The Global Financial Markets Association (GFMA) and PwC have today published a new report on current trends in technology and innovation and their impact on the investment bank of the future. The report, entitled ‘Technology and Innovation in Global Capital Markets,’ examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policy making.

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