The Swiss Central Securities Depository (“CSD”) substantially outperformed other CSDs across a wide range of survey criteria, achieving an average score of 6.21 (excellent) of a maximum score of 7, against an average score of 5.24.
Financial institutions praised the organization’s client management practices, and drive to develop ‘ambitious’, ‘innovative’ services that help the industry deliver greater operational efficiencies as well as a means to tackle looming industry challenges.
The launch of the IBM Watson-driven Security Operations Center for cybersecurity threats using cognitive computing, in addition to the announcement to develop a digital exchange, SDX, have also contributed to the high ranking in the survey’s technology and innovation criteria.
Commenting on the survey results, Thomas Zeeb, Head Securities and Exchanges at SIX said: “We are proud to have been rated by our clients as leaders in CSD services – domestic and cross-border – for the fourth year running. Our ambition is to keep delivering higher and higher levels of value for our clients, by finding innovative ways to reduce the operational pain-points of today, as well as the future. To do this we have taken a dedicated, focused and pragmatic approach to understand how new technologies can improve efficiencies, enhance customer experience and add real value to our customers’ bottom-lines.”
Commissioned on behalf of leading securities services publication, Global Custodian, by financial services research consultancy, McLagan, the survey assesses agent banks in major markets on a number of detailed criteria, including client relationship and service, risk and liquidity management, regulation and compliance, innovation and technology, as well as pricing. Awards were based on thousands of responses from around the world covering the performance of over 80 providers in 27 major markets.
Global Custodian – Agent Banks in Major Market Survey 2018