2023 was a busy year for the team at AQX Technologies, and 2024 looks set to be even more so with all the regulatory changes due to take place this year.
As we settle into the new year, we have taken the opportunity to review the trends we saw in 2023 and share our thoughts on what 2024 has in store.
Technological advancements across the industry fuelled further innovation in post-trade solutions in 2023, and further emphasised the need for greater efficiency and security.
AI took centre stage as a topic of contention, as the industry grappled with its potential applications and the implications of utilising the technology.
Blockchain and cloud computing were also significant topics of discussion in the world of post-trade operations, as their potential to significantly increase efficiency, security and enhance market transparency were more understood.
Finally, for much of the industry, the main area of focus was on forthcoming changes to T+1 settlement and the associated implications of this transition.
The impact that T+1 will have on the industry should not be underplayed, and in the first half of 2024 firms will be preparing themselves for May. The need to streamline and optimise post-trade processes is front of mind, and increasing automation in these processes will be key to ensuring a smooth and painless transition.
Additional regulatory changes such as the Mifir/EMIR Refit in the latter half of 2024 will also be a crucial focal point for market participants.
We expect to see further innovation and competition in post-trade solutions through the advancement and adoption of technologies including blockchain, AI and cloud computing, and greater collaboration between traditional financial institutions and fintech companies as they work on solutions to benefit the whole industry.
