ISLA to form new digital working group 22 April 2020London Reporter: Natalie Turner
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The International Securities Lending Association (ISLA) has launched a new digital working group and it is now inviting members to join.
The group will initially help to form responses to both the European Commission鈥檚 and Bank of England鈥檚 consultations on how to advance the digitisation of financial markets.
Earlier this month, the European Commission launched a consultation on its digital finance strategy. In this consultation, the commission is interested in hearing the views of a wide range of stakeholders including national competent authorities, member states and the European Central Bank.
Similarly, the Bank of England published a discussion paper on 7 January. The discussion paper marks the launch of a review held with 鈥渂anks, insurers and financial market infrastructures to explore a transformation of the hosting and use of regulatory data over the next decade鈥�.
Closely aligned to both of these initiatives, looking at the increasing complexities surrounding the securities lending market.
The working group鈥檚 long-term goal will be to focus on the creation of a common domain model (CDM) for the securities lending market and other fintech topics mentioned in the paper.
Commenting on the new group, the CEO of ISLA, Andrew Dyson, says: 鈥淲e are excited to engage with ISLA members and the market more widely in relation to the issues and vision for the future of the industry.鈥�
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