Thinking Space

Thinking Space

The JDX Thinking Space publications are aimed at sharing our consultants’ practical knowledge and personal experience gained during projects, to help our clients address some of the issues they face in today’s markets.

The JDX Thinking Space publications are aimed at sharing our consultants’ practical knowledge and personal experience gained during projects, to help our clients address some of the issues they face in today’s markets.

Software Eating the World of Finance

25 April 2017 BY: MARK PEARCE Duena Blomstrom, FinTech speaker and creator of Emotional Banking, wants us to understand that FinTech is not just about the disruptors, but actually all of the financial players. This short essay classifies the FinTech ecosystem in more...
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Robo-Advice: A challenge to the human element?

BY KATERINA SABA With the ever-increasing use of technology, intensified competition in the financial services industry, and the growing value of assets under management (AUM), the advisory sector could not have remained unchanged. Wealth management is entering new...
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Data Science: Transforming the finance industry

BY TITOS MATSAKOS, PhD The Data Science revolution Data Science, Predictive Analytics, Big Data, Supervised/Unsupervised Machine Learning. Itinerant buzzwords or opportunity for competitive advantage? As we’ve seen during the last couple of decades, it can be much...
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Data Scientist vs. Data Analysts

WRITTEN BY KLAUDIA KLOCZEWIAK Big Data and Data Science are both terms that have become buzzwords in today’s world. Since it was recognised that using customer information to target the marketing of products (Tesco’s Clubcard being an early example), people have...
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The Shift in the Financial Service Sector towards the mighty Cloud

WRITTEN BY KRISTINA MELLO The financial service sector is adapting its business model as a result of a number of expected trends. The increase in stricter regulation and the continuous movement towards more transparency in the marketplace has seen institutions...
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The Opportunity For Standardisation – Uncleared Margin Reform

BY RAVI SONECHA In the face of unprecedented regulatory reform, the over-the-counter (OTC) derivatives market is straining to adapt to new clearing, transparency and margin standards. Undoubtedly the importance of standardisation across industry participants,...
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Right Shoring – are you shore? One-size does not fit all

BY GUY WHITLEY Typically banks and financial institutions have, in times of mounting cost pressures, adopted a restructuring and redistribution of resources and processes globally to align with the business target operating model and strategic aims. Using a balanced...
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The Query Management Elephant

BY RYAN BACCUS Despite major investment into technology improvements and automation initiatives, post trade processing for financial markets products remains heavily reliant upon human interactions and as such is open to inefficiencies and risks associated with these...
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Motivating Staff during a Strategic Business Event: Short-Term Measures to Avoid Long-Term Loss

BY JOE BUMFREY CO-AUTHORED BY CHARLES DAVIS AND GUY WHITLEY Post the 2008 financial crisis, we find ourselves in an era where streamlining operation processes and product portfolios is a common business event for many organisations. Firms have faced the onerous task...
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Uncleared Margin Rules (UMR) | Does the no-action relief proposal provide any relief?

WRITTEN BY RYAN BACCUS Late on the 1st day following the first compliance date for rules proposed by the CFTC in relation to uncleared swaps between swap dealers, the CFTC have endorsed a “no-action” position that recommends no enforcement action subject to the...
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FRTB: A revision of the Supervisory Standards against Market Risks

BY RODA ULAS Financial institutions play a “too big to fail” role in the global economy which can lead to catastrophic systemic risk. To mitigate the knock-on effects of unforeseen events, which may interfere with the financial stability and soundness of the economy,...
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2016: The year of great change

BY AMBER BISSELL WITH ASSISTANCE FROM SOPHIE SCALES As we look back over the past year, one thing is for certain: 2016 was a year of great change. A year dominated by Brexit, shock elections and overall uncertainty, there’s no doubt that 2016 was memorable. The most...
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A Marginal Change in Regulation – The Implications for Banks

BY RICHARD THACKRAY Since the 2008 Financial Crisis, regulators, governing bodies and firms have been implementing changes to eliminate the possibility of another large scale catastrophe. Financial institutions have already invested huge amounts in new systems and...
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Payment Systems Directive: A disruptor to traditional banking or an opportunity for innovation?

WRITTEN BY SPYROS ADAMANTIADIS Moving money around the globe has become increasingly challenging. Changes to the global banking system and the fast pace at which regulation now evolves is building on the long list of challenges that already exist in today’s financial...
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Brexit – To what extent will it affect the U.S.?

by MATT LANGFORD Jun 21, 2016 It is a well-known fact that the term ‘Brexit’ has appeared in all national news recently, with the UK seemingly divided as to whether or not they wish to remain in the European Union (EU). Whatever the outcome, changes in the UK...
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Uncleared Margin Rules – how was the challenge met?

10 APRIL 2017 BY: KALINA TASEVA The topic of uncleared margin rules (UMR) and its implementation have been circulating the financial industry for the past year. The big day of 1st March 2017 – the deadline for Variation Margin (VM) compliance – has passed, but we are...
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The Legal Side of Brexit and Article 50 – UK Financial Services Industry to Embrace Uncertainty

BY: JOSIE STEER After the public referendum held on 23rd June 2016, it appeared certain that the UK would exit the European Union (EU) after nearly 52% of voters elected to leave. This outlook soon turned out to be somewhat naïve however, as the intricacies of Britain...
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Legal Project Management, a growing need within financial institutions?

BY FLORENCE ROSATI Legal Counsel within a bank is critical to maintaining its commitments to clients, regulators, and shareholders. Banks are enabling legal functions to autonomously interact with external counsel and clients by providing legal advice that protects...
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Brexit – uncertainty is certain

For 41 years the UK has been a member of the European Union, having joined the (then) European Economic Community in 1973. On 23rd June 2016, the UK electorate will again have to decide whether the UK is to remain a part of this economic and political union. There...
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Operational Risk – How have financial firms changed their view on OTC operational risk in the new regulatory environment?

by RICHARD MITCHAM Apr 4, 2014 Regulations mandated through Dodd-Frank and EMIR require banks to take an aggressive approach to automating derivative trade flows. The new regulations require firms to increase their process complexity in order to meet new reporting...
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Challenging the speed of automation against the quality and security of manually handling claims

BY WILL PERRETT The claims process, why is it perceived to be slow? In 2017, Lloyd’s want to focus on the claims process, chiefly to make it more efficient and a better experience for both insurers and customers. In order to fix the issues within claims handling, it...
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New Lloyd’s minimum standards have the potential to create chaos in the lineslip market if not dealt with imminently

BY FELIX NOLAN An earlier Thinking space article entitled Forced reform of delegated authorities speaks about the challenges created by new rules imposed by Lloyd’s on the delegated authority market. Delegated authority is when insurers agree to give authority to...
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Market Reform Contract Digitisation: An Opportunity Beckons

BY DOUGLAS TAYLOR One of the previous JDX for Insurance Thinking Space articles, A Target Operating Model for the London Insurance Market, describes some of the challenges currently facing the London insurance market (the “Market”) and some of the solutions that are...
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‘Giving the pen away’ – The challenges the market faces with regard to delegated authorities and related regulatory requirements.

WRITTEN BY ALLY REDDING The previous Insurance Thinking Space article titled Forced reform of insurance delegated authorities explored the inefficiencies that exist in the delegated authority sector and the longer term solutions being discussed in order to meet the...
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Modernisation – the parallel universes of Insurance and Banking

by HUGH EVANS Oct 23, 2015 The worlds of insurance and banking operate within parallel universes, despite both being part of the Financial Services industry. Each world strives to implement the common three pillars of regulatory change (effective capital, risk...
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General Data Protection Regulation (GDPR) is fast approaching… Are you prepared?

23 MAY 2017 BY: DOUGLAS TAYLOR Key terms: • Natural person – A citizen or lawful resident of a European Union member state • Personal data – Any data related to an identified or identifiable natural person • Processing – Any operation performed on personal data...
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MAR – The Latest Addition to Post-Financial Crash Market Regulations

BY: SHALINA SETHI Recently, regulatory arbitrage – the act of firms choosing to operate in markets that have a more favourable regulatory landscape – has given rise to concerns over its potential use for market distortions. These alternations, driven by the unlawful...
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MAS: Excessive Control or Necessary Enforcement?

BY EMON TABRIZI Amongst a backdrop of global regulatory changes, many of which emanate from Europe and the US, the Monetary Authority of Singapore has taken their own stance on the challenges facing the industry today, and made great steps towards implementing...
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What the rise of the buy side could mean for the future of banking

BY: MICHAEL SAGL In the wake of the 2008 subprime mortgage crisis, new regulations may have indirectly created a shift in the balance of power among financial institutions. “Safer” banking became the priority, but being safe is seldom the key for prosperity,...
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Clinton vs Trump: How will the 2016 Presidential Election affect Global Financial Markets?

BY EMILY LEWIS The global economic outlook for the months that lie ahead are undoubtedly threatened by the political uncertainty of the upcoming U.S. presidential election. Whomever the next president may be, the successful candidate on 8 November 2016 will have their...
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