With a greater need to reduce costs, custodians may be looking to partnerships and collaboration, possibly under a utility model. But with a poor track record of achieving this due to competition issues, are securities services firms finally ready to band together for the greater good – and what areas of asset servicing could be primed for this move?
Sibos panelists explained a shift in mindset from both post-trade firms and buy-side clients to one that is more open to collaboration could pave the way for industry utilities.
Open platforms have emerged as a cost-effective solution for banks that are updating and realigning their technology stacks in the wake of increased regulatory compliance.
