LONDON
22 September 2026
The UK and EU have their dates. The industry has its taskforces. But as the clock ticks toward the 2027 go-live, the uncomfortable questions haven't gone away, they've got louder. How do you compress securities lending recall and return cycles when some counterparties are still running batch processes? What happens to cross-border transactions caught between jurisdictions settling on different timescales? And with the US experience now well-documented, which lessons has Europe actually learned, and which warnings is it quietly ignoring?
This panel moves beyond the operational checklist and gets into the harder structural questions. Panellists will address the impact on fails, the strain on collateral mobility, the technology investment still required, and whether the current timeline is achievable without market disruption. Honest, practical, and pointed, because the industry doesn't need another T+1 session that tells them what they already know.
Moderator
Roy Zimmerhansl
Head of Capital Markets, WTS Hansuke
Panellists
Oliver Zemb
Head of Equity 麻豆影视传媒 and Collateral Management Trading, CACEIS
Matthew Neville
Head of Agency Lending Trading, EMEA State Street
Repo has never been more central to how markets function or more exposed to the pressures bearing down on them. Rising rate volatility, evolving balance sheet constraints, and the push for mandatory clearing in both the US and EU are forcing a fundamental rethink of how repo desks operate. At the same time, the drive toward real-time margining, intraday liquidity visibility, and automated collateral substitution is accelerating, but implementation is patchy and fragmentation between bilateral and tri-party markets persists.
This panel puts repo under the lens from multiple angles: the buy side managing intraday cash, the sell side navigating balance sheet costs, and the platforms building the infrastructure to connect them. What does best-in-class repo infrastructure look like today, and how far is the average firm from it? With mandatory clearing timelines approaching and data demands growing, the session will examine what the next twelve months require, in investment, in workflow redesign, and in market structure thinking.
Moderator
Gabriele Frediani
Industry expert
Panellists
Neelan Pavan
Product Manager, MarketAxess Match & Repo MarketAxess
Most panel discussions about the beneficial owner relationship tell you what both sides think the other wants to hear. This one is different.
In a one-to-one moderated conversation, a senior agent lender sits down with one of their own clients to have the kind of frank exchange that rarely happens in public. What does a beneficial owner actually value in this relationship 鈥� and where do agents still overestimate what they bring to the table? Is indemnification a genuine differentiator in 2026, or has it quietly become a commodity? As T+1 compresses programme timelines and beneficial owners arrive with sharper analytics and stronger opinions, how much control are clients now expecting over lending decisions 鈥� and are agents ready to give it?
No slides. No safe answers. Just two senior practitioners, one relationship, and a conversation the industry needs to hear.
Moderator
Panellists
The relationship between agent lenders and their beneficial owner clients has shifted. Pension funds, sovereign wealth funds, and asset managers are coming to the table with sharper questions, more sophisticated internal analytics, and in some cases a genuine appetite to explore direct lending models. At the same time, ESG integration into lending programmes, indemnification appetite, and the impact of T+1 on programme design are all reshaping what clients expect from their agent lender relationships. This panel examines the evolving beneficial owner dynamic from both sides. What are clients actually asking for in 2026 that they weren't three years ago? How are agent lenders adapting programme structures, reporting, and governance frameworks to retain mandates in a more competitive environment? And as technology lowers the barrier to more direct market participation, where does the value of the agent lender relationship genuinely lie?
Moderator
Panellists
The tokenisation of real-world assets is no longer a pilot project, it is becoming infrastructure. From tokenised treasuries and money market funds being used as collateral to the emergence of DLT-based repo and securities lending platforms, digital assets are quietly rewiring the plumbing of securities finance. But the gap between proof-of-concept and institutional scale remains stubbornly wide.
This panel brings together trading desks, technology platforms, and custodians to cut through the noise. Where is genuine traction being seen, and where is the industry still waiting for regulatory clarity? How are participants managing the interoperability challenge between legacy systems and distributed ledger infrastructure? And with the FCA and EU regulators developing distinct frameworks for digital securities, what does a compliant, scalable digital collateral operation actually look like in 2026?
Moderator
Panellists
Sabine Farhat
Head of Securities 麻豆影视传媒 Product Management, Murex
The securities finance industry has spent two years debating artificial intelligence. Now it's time to account for what has actually changed.
Regulatory reporting is where the pressure is most visible. Supervisory focus has shifted from whether reports are submitted to whether they are correct and traceable 鈥� regulators are running automated quality checks, and firms without AI-driven controls are exposed. The best operations teams are already using AI to detect errors at volume, perform root cause analysis, and enable agentic remediation that strips out noise so SMEs can focus on true exceptions. That logic is extending into post-trade more broadly. Regulatory intelligence is evolving in parallel 鈥� ISDA DRR traceability is moving from nice-to-have to essential 鈥� and AI is increasingly being used to detect incoming rule changes, implement them in the logic layer, and maintain full audit lineage through the process.
But reporting is one piece of a larger picture. Where is AI genuinely improving trade optimisation, fails management, and counterparty risk 鈥� and where has the reality fallen short? For anyone navigating vendor promises and internal investment cases, this is the grounding session the agenda needs.
Moderator
Panellists
Moderator
Panellists