SIX at Sibos 2024: A Summary

There were two top-billed speaking slots at Sibos featuring senior leaders from SIX.

On Day 2 of Sibos, Jos Dijsselhof, SIX CEO, spoke about operational resilience and cyber-security on a panel comprised of leading financial market infrastructures (FMIs).

Meanwhile, on Day 3 of Sibos, Javier Hernani, Head of Securities Services, SIX, shared his thoughts about post-trade harmonization – or lack thereof – before giving an update on the status of T+1 in Europe.

More information about the topics discussed during the two panels can be found here.

SIX continues to cement its position in Asia.

During the conference, SIX and China Construction Bank (CCB) signed a Memorandum of Understanding (MOU) aimed at furthering cooperation on securities services-related matters and to foster an ongoing relationship between the two organisations.

“This agreement is a step forward in expanding our reach in Asia, a dynamic region full of business opportunities. We look forward to working together to explore opportunities for cooperation in the securities services field that are positive for both sides and for the financial services industry,” said Dijsselhof.

This came a few days after SIX signed a separate MoU with CMU OmniClear, a wholly-owned subsidiary of the Hong Kong Monetary Authority (HKMA). This MoU will see greater cooperation in securities depository and settlement, a promise of a closer working relationship, and the establishment of communication channels to support the exchange of information. 

The industry’s willingness to embrace digitalization shows no sign of letting up.

This doubling down on all things digital comes amid growing retail investor participation in capital markets. In a world where people can order their taxis or food deliveries via an app which gives them full and real-time visibility into the lifecycle of their transaction, the Securities industry has realised it needs to sharpen its game-plan.

Progress around technology is happening, evidenced by the industry’s growing adoption of Artificial Intelligence (AI) and tokenisation. Experts highlighted that tokenisation could lead to material improvements in fund distribution and collateral management, while AI is being used to drive transparency in areas such as corporate actions and ESG monitoring and reporting.

However, experts at Sibos noted that short-term challenges, such as ensuring that new technologies are interoperable with existing stacks, are making it hard for some firms to fully digitalise their operations. These issues need to be resolved, if the industry is to meet the expectations of the next batch of investors.

After Beijing, Sibos will return to Frankfurt next year, the first time it has been held in Germany since 1999. 

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