Heads of some of the most-active fund administration buyers in the industry tell Global Custodian the COVID-19 crisis will not deter those still looking to acquire.
Trade associations including AIMA and FIA EPTA have said the short selling restrictions have failed to curb volatility and could pose long-term damage.
Trade repositories will be able to register with the Financial Conduct Authority (FCA) following the end of the Brexit transition period.
The impact of the COVID-19 crisis on operations could stimulate work towards a digital post-trade framework between regulators and securities services firms.
T2S earns praise for performance during market volatility in March where daily settlements almost doubled.
Research from ICMA found that while demand for repo increased significantly dealers’ capacity to intermediate was constrained and limited access to many firms that needed it.
Calls, emails and video conferences replace in-person meetings as custodians look to adapt and continue onboarding clients.
Custodians may be forced to delay implementing billions of assets onto their custody platform as clients look to minimise the risk of switching providers on their operations.
According to the two global custodians, both had reported a rise of at least 50% in back-office transactions in March verses the first two months of the year.
Restrictions in short selling in Austria, Belgium, France, Greece and Spain have been extended despite warnings of unintended consequences.