Capital Markets
Since 1994, our experts have been working with post-trade infrastructures in the financial sector to deliver mission-critical advisory projects for:
- Central securities depositories (CSDs)
- Stock exchanges
- Central banks
- Central counterparties (CCPs)
- Regulators
Unique Services for Financial Market Infrastructures
Thomas Murray is the only organisation in the world to maintain risk assessments on post-trade infrastructures. Efficient and safe post-trade infrastructures are key to a well-functioning market – if they don’t work correctly investors can suffer unnecessary risk and higher cost, leading to lower market confidence.
Overcoming Challenges
Several factors are driving change, including increased regulation, new technologies and digitisation, the need to diversify revenues, and an increase in competition. Thomas Murray is perfectly placed to help investors to understand their exposure to a market, and to help financial market infrastructures (FMIs) with their transformation projects.
Challenges
- Meeting new and pipeline regulation
- Reducing inefficiency in markets
- Finding new revenues
Drivers
- Rise of FinTech disrupting operating models
- Global competition and consolidation
- Regulation
Opportunities
- Exploiting digital solutions to generate revenue
- Demonstrating efficiency and low-risk to attract investment
- Partner with (or acquire) FinTech
Key capabilities
Risk Assessment
We offer expert public or private assessments of CSDs across asset commitment, liquidity, counterparty, asset safety, asset servicing, financial, operational, and governance and transparency risk.
Regulatory Assessment
We help FMIs to comply with regulation, including implementation of the CPMI-IOSCO Disclosure Framework and assessment of the PFMIs.
Cyber Risk
We continuously monitor the cyber security posture of every FMI in the world, and can provide monitoring of members, participants and critical third parties.
Market Transformation
We track global best practices and can advise FMIs on the key issues, threats and opportunities that should be addressed in their strategies.
Who We Work With
Central securities depositories
We monitor 145 CSDs around the world, giving us unrivalled knowledge of market practices, risks and trends. We support CSDs with a wide range of risk assessments, benchmarking, expert analysis and bespoke advisory work.
Stock exchanges
Our products can be used to compare trading practices, trading systems and stock exchange trends. Our tools have been used by stock exchanges to support their cyber risk management and can assist with assessing exposure to stock exchange members.
Central banks
Our FMI specialists continuously monitor developments in payment systems and assess their interaction with critical infrastructures. We support clients in reviewing access arrangements and our products can be used to assess payment system participants.
Central counterparties (CCPs)
We monitor the biggest CCPs globally, providing insight on their practices. We support CCPs in best market practice compliance and bespoke advisory work. TM can help with due diligence on clearing members and third-party risk management.
Regulators
Our capital market experts monitor regulatory developments daily and assesses their impact on financial market infrastructures and participants. Our assessments help our clients to meet their due diligence obligations and third-party monitoring.
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
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