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SWIFT, Visa, Mastercard and T2S?

Just a quick note as we are shortly to take our summer break from the Financial Services Club. 

First, the Financial Services Club is repeating the survey started in 2011 reviewing the changing face of payments infrastructures.

We would be delighted if you would join this year’s survey: click here to take part.

The survey reviews the status of payments processing through infrastructures such as SWIFT, Mastercard, Visa, the EBA, CHIPS/Fedwire and other networks, to see if they are fit for purpose, innovative and supporting the needs of the industry.

Second, the last meeting of the London Financial Services Club takes place on 18th July at the BT Auditorium from 14:00 (details below).  This last meeting is open to all so, if you want to come, just click here.

We then move into our 2012-2013 season from 25th September and here is an update for our winter meetings:

Tuesday, September 25 2012

Alex : 25 years of satirising the City with Charles Peattie and Russell Taylor, creators of the Alex Cartoon series 

Tuesday, October 9 2012

Quarterly Dinner: This house believes banks need branches

An Oxford style debate between Anthony Thomson, Chairman, Metro Bank; Mark Mullen, Chief Executive of First Direct; and Brett King, Chairman of Movenbank and Author of Branch Today, Gone Tomorrow.

Thursday, October 18 2012

The future of money, with Andrew Vorsten, Vice President for Technology R&D and Adam Banks, CTO and Head of IT, Visa Europe

Wednesday, October 24 2012

How to fall foul of the US law, with David Bermingham, one of the NatWest Three, and Rowan Bosworth-Davies, an expert on Financial Crime

Thursday, November 8 2012

The challenges of fraud in the age of the mobile internet, with Derek Wylde, Head of Group Fraud, HSBC

Wednesday, November 21 2012

P2P, the place to be – an update on Zopa’s progress, with Giles Andrews, CEO, Zopa

If you want to register for any of these meetings, just go to our website events and register.

Meanwhile, as mentioned, the Clearing & Settlement Working Group (CAS-WG) continues its detailed discussions of regulations and standards, TARGET2 for Securities (T2S) and LEIs.

The next plenary meeting is on July 18th at the BT Auditorium at 81 Newgate Street, London, EC1A 7AJ from 14:00 onwards.  If you would like to attend, click here

Following on from the last plenary  (summary), this meeting is an important event for anyone involved in clearing and settlement as the European Commission issued a consultation paper at the end of June that will change the trading of derivatives (details).  We have a chance to input views around these proposed rule changes between now and the end of August and believe the CAS-WG is the ideal platform to articulate our interpretation of the implications.  Therefore, any organisation involved in clearing and settlement should attend.

The specialist Subject Groups now have Chairs in place as follows:

  • Risk Subject Group Chair: Paul Young, Associate Director for Business Risk Services, Grant Thornton
  • Market Infrastructure Subject Group Chair: Kathleen Tyson-Quah of Granularity Ltd
  • Standards Subject Group Chair: Virginie O’Shea, Lead Analyst with Aite Group
  • Regulations Subject Group Chair: Rory Webster, Director with CapitalTrack Ltd

The Subject Groups have had several meetings since 30th May, and each of the Chairpersons will provide summary of their progress.

Alongside these discussions will be two panel debates.  The first will debate the rule changes to derivatives as already mentioned, and the second the market implications of LEIs (Legal Entity Identifiers) with the G20 requirement now to establish a fully operational registration system by March 2013 (see G20 decision).

Panellists confirmed to date include:

  • Robin Poynder, Head of Regulation, Marketplaces, Thomson Reuters
  • David Nowell, Head of Industry Relations, UnaVista
  • Richard Young, Head of Regulatory Affairs for Securities Markets, SWIFT

We urge you to attend as both of these areas will be critical to the London and European markets and market infrastructures for change over the coming years and now is the time for action if you want to shape this change.

If you would like to attend (it's free), click here

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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