Capital Market Infrastructure Risk Assessments

Thomas Murray Data Services’s Capital Market Infrastructure Risk Assessments are a key component of its Market Information Guides. They are an online reference guide to the local market rules for the trading, clearing, and settlement of securities globally. Assessments of over 90 markets are available and updated daily.

The risks incurred by institutional investors that buy, sell or hold assets in foreign markets stretch beyond exposure to a custodian bank or a central securities depository (CSD) or a fund administrator. In fact, they include a range of risks that are not routinely intermediated or indemnified by any of these institutions, such as the lack of simultaneous delivery of securities against cash payment, the failure of a counter-party, breakdowns in payments systems, and entitlements lost because of inadequate information about a corporate action or an AGM. The Thomas Murray Data Services capital market infrastructure risk assessments encapsulate all of these risks, offering institutional investors a continuously updated source of information about local market clearing and settlement risks which are not always covered by custodian banks, fund administrators and CSDs.

What is a Capital Market Infrastructure risk assessment?

It is an independent assessment of the riskiness of the safekeeping and transaction settlement processes in a market, based on an assessment by Thomas Murray Data Services of all of the post-trade risks to which investors are exposed in that market. The ratings, which use the familiar AAA to CCC grading scale, measure the extent to which the infrastructure and processes in a market minimise the exposure of investors to the six main risks monitored by the Thomas Murray Data Services market infrastructure monitoring service: asset commitment, liquidity, counterparty, financial, asset servicing and operational risks. The assessments enable users to compare total post-trade risk exposures across multiple markets.

Capital Market Infrastructure Surveillance

Notifications of changes in risks that might affect the assessments are e-mailed to subscribers daily, along with an assessment of their impact on the risk exposures of investors. Subscribers to the capital market infrastructure risk assessments also enjoy access to the Securities Market Profiles and Central Securities Depository Risk Assessments services, both of which offer regular updates.

Daily Securities Market Flashes are included in the price of a subscription. If you are interested in seeing sample newsflashes, read the archive of past updates or sign up to receive our monthly Newsletters.

CMI in Focus

Thomas Murray Data Services maintains a wealth of information through the whole post-trade lifecycle of securities. In a series of historic reports, Thomas Murray Data Services investigates global trends in the industry through the analysis of particular areas of capital market infrastructure.

Click here to view all the historic CMI in Focus reports.


Derek Duggan portrait

If you would like to purchase this service, or find out more about it, please contact Derek Duggan at dduggan@ds.thomasmurray.com or telephone him on +44 (0) 20 8600 2300.

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