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Events
ASPone features at British Bankers’ Association’s IV Annual International Banking Conference
The British Bankers’ Association’s fourth Annual International Banking Conference took place in the Guildhall in London on 29th June 2011. ASPone were approached and invited to play a key role by providing a contribution on a currently relevant subject. ASPone recorded an interview with ITN discussing upcoming regulatory changes which will impact market structure and trading processes. These changes include the much-awaited CFTC regulation relating to the Security-based Swap Execution Facilities (SEFs) resulting from the Dodd Frank Act. The videoed interview ran on a rolling basis during the conference and was included in a pack sent to BBA members. During the interview, Patrick McGrath, Chief Executive of ASPone Ltd, said that the company is working closely with all its clients on the upcoming changes to ensure they are meeting the requirements in a timely fashion but also allowing them to accelerate into new business opportunities. McGrath said most institutions will have to change their trade reporting processes for interest rate products and that the new requirements will be increasingly complex. Clients may also see change on the voice execution side or with connectivity to clearing counter parties. He then went on to say “regulatory changes should not necessarily be seen as a negative, but rather as an opportunity to explore new business opportunities, perhaps by moving to new asset classes or changing geographical focus. The financial services market is most adept at finding new opportunities to create profits for their companies when new rules and standards are implemented and we’ve seen this in the past. This will continue and I envisage that, with these upcoming changes, we will see significant opportunities open up for our clients as they look to accelerate growth after the regulatory implementation”. At the end of the interview, McGrath said that ASPone has always worked very closely with its clients, has a good understanding of the markets and technology and products which allow the company to be flexible, manage and facilitate change and that ASPone is therefore well placed to meet new market opportunities whether it be new asset classes, new geographies, further regulatory change or new arbitrage opportunities. ASPone Limited is a privately-owned company which specialises in the provision of end-to-end financial IT solutions and services to cover the full trade lifecycle from front-office price discovery to back-office STP confirmation and beyond. ASPone is committed to providing financial institutions with innovative, efficient solutions for their real-time market data and transactional management requirements, hosting services and software application development.
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