The 28th edition of the conference--which was held under Chatham House rules, meaning individuals could be quoted but they and their affiliation could not be identified--covered topics such as liquidity management considerations for 2024, European repo markets, OTC collateral management, automation, innovation, cloud and how artificial intelligence will transform financing markets. The two-day conference also provided the 800-some attendees the opportunity to network with other professionals from the industry.
2023’s global funding and financing summit left participants with a sense of how “unprecedented” the situation was, noted a speaker during the conference. Inflation was high, interest rates were on the rise, volatility had returned, there was concern around expanding regulation and the shadow of geopolitical tensions. But there was also “great enthusiasm” related to technology, AI and digital advancements.
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And how did the year turn out? “It was a bumpy ride,” the person said. “Rates rose, and it turns out that central banks and policymakers did in fact have the tools to curb inflation.” There was major bank stress, with the collapse of Credit Suisse and five mid-market banks in the US.
“The intensity of the regulatory front increased, kind of as expected. The reality of Basel III is starting to bite. IWA is going to be a major focus for a lot of us this year, but also the the US adoption of T+1 and the downstream impacts on our industry.”
Technology and innovation continue to be important topics, but for this speaker, the “major theme” driving markets this year is going to be geopolitics. It’s not just conflict in the Middle East or Russia’s war in Ukraine, but in 2024, more than 60 countries--representing more than half the world’s population--will participate in elections. Their impact on the political and economic landscape, as well as financial markets, will be something to watch.