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Waves of change at the 20th ACSDA General Assembly

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As in each year, America’s central depositories meet at the ACSDA General Assembly, in order to discuss issues relevant to the industry. On this occasion, it was hosted by Bahamas CSD, co-hosted by Barbados CSD, Eastern Caribbean CSD, Jamaica CSD and Trinidad and Tobago CSD.

The event began on April 11th, at Atlantis Paradise Island Resort, with the official ACSDA Assembly, where the Executive Committee met, followed by a welcome reception for all the guests. On April 12th and 13th, activities took place such as presentations by the authorities of the Bahamas, industry specialists and discussion panels on a wide range of issues relevant to the Depositories.

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This year, the central theme was “Waves of change: oceans of opportunities”, on market growth opportunities, technological changes, cybersecurity and the main trends that securities market infrastructures could face in the future.

Major change issues

This year, the 7 topics discussed related to market modernization. Presentations focused on technology and new trends that could affect the financial industry, especially that of central depositories. artificial intelligence, block chain, big data and supercomputing were analyzed as possible threats and opportunities for the future of our market infrastructure, both in the short and long term.

“Previously, operational risk, business continuity and settlement cycles were very relevant. Though they are still important pillars in our industry, new topics have gained importance in the agenda”, says Juan Carlos Melys, Deputy Commercial Manager of Depósito Central de Valores de Chile. These issues were the “trending topics” within our industry for many years. However, in recent years, technological advances, new trends and business, beyond the core, have become the most important issues to deliver new and better infrastructure solutions and services for the capital market.

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The industry’s biggest challenge, and one of the principal concerns discussed in the Assembly, is cybersecurity: as depositories, we ensure security of the securities we custody. Cyberattacks could affect this reliability and, therefore, this issue must be addressed with the utmost urgency and strength.

This year, great research work was done on the new services that Depositories of the world could be implementing. We accessed hard data on what the different associations of CSDs are doing; the manner in which they are addressing the new challenges and the range of possible services that central depositories could achieve.

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Participation of Chile in the ACSDA General Assembly

Chile participated as a member of the Executive Committee and moderator, represented by Javier Jara, Manager of Commercial and Legal Affairs of DCV Chile, and Vice-president of ACSDA, who also moderated the panel on Technology Trends for CSDs and Blockchain: “It was an interesting panel, where experts from Europe and USA explained how the waves of technological changes that we are facing in these times can become opportunities and/or threats for our industry”.

On the other hand, Rodrigo Roblero, Finance and Planning Manager, participated as lecturer of “Central System Acquisition” for central depositories, regarding technological change. Roblero presented the Chilean case, and how we are developing the project of technological change in the country.

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The 20th edition of the ACSDA General Assembly brought together central depositories of all sizes. This type of meeting enriches conversation of the panels, with experiences and contributions of all members, and provides the member depositories of ACSDA with roadmaps so that we can improve our processes and adopt global standards.

All the material of the XX General Assembly is already available on the ACSDA website:

url 022 01 Go to the acsa site

 

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