Topics covered will include – ESG Best Practices for Securities Lending, The ‘Direct’ Lending Model, Punitive Implications of Basel IV Implementation for Unrated Counterparts.

To read Verena Ross’ Opening Keynote Address please click here.

2022 saw the return of volatility across financial markets, resulting in numerous trading opportunities for many firms. Senior figures from across the securities finance industry will reflect upon whether that momentum has continued into 2023, and how businesses are evolving to reflect the changing demands from clients and market participants.

Following on from the related breakout session on Day 1, this panel will focus on how the Basel framework alongside other binding constraints (RWA and balance sheet) and operational factors are evolving trading relationships. Market events centered around the LDI crisis in late 2022 and more recently the demise of SVB and Credit Suisse testify to the importance of the provision of market liquidity. This session will try and make sense of some of these recent events, as well as debate how the very nature of what we do is changing and how we have to respond to these challenges.

The final session of the day will look in depth at how collateral is increasingly driving flow within our markets. Today, our markets have become an important conduit for the provision of liquidity, collateral mobilisation, and financing, set against the backdrop of our market standard legal framework. Following the LDI crisis in the UK, market participants are increasingly aware of the importance of efficient margining techniques, including the use of tokenisation.

As part of the launch of ISLA Connects, we will be holding our first in person gathering of this group at our 30th Annual Securities Finance & Collateral Management Conference. We want to attract a diverse audience with greater participation from member firms across various departments who may not ordinarily get a chance to attend our annual flagship events. Passes are available for qualifying individuals from ISLA Members firms.

Following a day of formal keynotes, panels and presentations, we will be hosting a networking drinks reception at the SUD, Lisbon, to celebrate the 30th year of the ISLA Securities Finance & Collateral Management Conference.

To read Luís Laginha de Sousa’s Opening Keynote Address please click here.

Efficiencies and structural change that are increasingly being demanded by politicians and regulators in the context of financial services, can only be achieved through the broad adoption of digital technologies. At the same time, the fintech, distributed ledger technology (DLT) and digital asset markets continue to develop rapidly, with institutional interest remaining constant. Amongst other things, this session will review the fast-changing regulatory landscape (including prudential regulation) around digital markets, and the implications for securities lending and financing activity and infrastructure. As new and novel assets, including tokenised securities and cash begin to move into the mainstream, it will also consider legal certainty around issues such as ownership and transferability, so as to allow these markets to scale up and reach their true potential.

At recent events, we have heard from inspiring individuals and some very personal perspectives on Diversity, Equity & Inclusion (DEI) in the securities finance industry. During this session, we are going to focus on where next. How are firms addressing DEI considerations? How do they recruit diverse talent to join the industry? How do they get buy in and engagement within their organisations? We will hear about the benefits it has brought to the business and the practicalities of making positive change, explore the timeframes involved, and finally consider how the industry measures success.

This presentation will look primarily at ESG regulatory and policy milestones.

It has been suggested that ESG assets will reach $53 trillion by 2025, a third of global assets under management. Although the war in Ukraine may have subtly changed some of the sustainability rhetoric, the long term direction of travel remains clear, and the work that ISLA has been leading on in areas such as governance and collateral are vitally important in the context of our markets. This final panel of the conference will touch upon the work already done, against the backdrop of the global policy and regulatory initiatives outlined in the previous presentation, including areas of regulatory clarification needed and the expectations from market participants from across the value chain.