The Risk
Central Securities Depositories (CSDs) are the central mechanisms for holding and transferring securities in every market in the world. In many cases they are bastions of stability and strengthen a financial market, but they can also pose significant risks to the financial system.
The Solution
Thomas Murray provides intraday monitoring and risk assessments of 140+ CSDs globally. We enable banks and other groups exposed to CSDs to understand the risks they pose, benchmark them against other markets and against best practices globally.
Our analysts are experts in CSD risk, including:
Asset Commitment
Liquidity
Counterparty
Asset Safety
Asset Servicing
Financial
Operational
Governance and Transparency
Thomas Murray scores every CSD
According to a CSDs capabilities, its operational infrastructure and its willingness and ability to protect participants and their clients from losses.
There are two primary use-cases for these assessments:
- Proprietary: where direct and indirect users of a CSD access the assessments for their own use, and they are not published publicly. Users of a CSD include Custody Banks, Broker Dealers, and Institutional Investors.
- Public: where a CSD commissions a rating on itself and makes it publicly available.
In addition to CSD Risk Assessments, Thomas Murray provides Cyber Security Ratings and ESG assessments of every CSD globally.
We safeguard clients and their communities
Petroleum Development Oman Pension Fund
“Thomas Murray has been a very valuable partner in the selection process of our new custodian for Petroleum Development Oman Pension Fund.”
ATHEX
"Thomas Murray now plays a key role in helping us to detect and remediate issues in our security posture, and to quantify ATHEX's security performance to our directors and customers."
Northern Trust
“Thomas Murray provides Northern Trust with a range of RFP products, services and technology, delivering an efficient and cost-effective solution that frees our network managers up to focus on higher Value activities.”
Insights
How Often Should ODD Be Refreshed? A Practical Framework
Most allocators do a full ODD review every 12 to 36 months, but the right cadence depends on risk. Here's a practical five-step framework for deciding how often to review each manager.
Private Equity Has a Cyber Risk Blind Spot
Private equity has become much better at assessing cyber risk, but it may be looking in the wrong place.
What AI Actually Changes About the DDQ (and What It Doesn't)
AI is transforming DDQ workflows, but it doesn't change what a questionnaire actually is: self-reported data. Here's where the line falls, and what to ask before adopting an AI-assisted tool.
Beneath the Asset – Out of Sight: The State of Cybersecurity in the Private Equity Industry
The UK’s smallest investment funds are weak security link in protecting the IP needed for national growth, new Thomas Murray study finds.
Our expert
