About the Post-Trading Division
The activities of the Post-Trading Division are conducted through the European Securities Services Forum (now known as AFME / ESSF), which focuses on the creation of a single integrated post-trading process for securities transactions in Europe. The division seeks to achieve harmonisation, standardisation and consolidation through best practice and EU and enabling regulation. AFME / ESSF provides solutions in the clearing, settlement, and custody space to reduce costs and risks of market participants. Initiatives cover operational, legal, tax, and regulatory aspects of post-trading, and reflect the views and positions of the division's members toward public sector authorities and central banks at both European and national levels. On issues of common interest, the division cooperates with SIFMA's Operations Committees in the US and in Asia.
Key Issues and Initiatives
- Standardisation of operational processes: corporate actions, settlement cycles, buy-in rules, operating hours and settlement deadlines of CSDs;
- Availability and interoperability of CCPs in cash securities markets;
- Elimination of legal and fiscal Giovannini Barriers through harmonisation; and
- Securities services industry projects: target2-securities, CESAME2 Group, and Code of Conduct on Clearing and Settlement.
Organisation
The board of directors of the Post-Trading Division is comprised of heads of operations at member firms, or their designates.
Board of Directors
Nicola Kane, Goldman Sachs, Chair
Paul Bodart, BNY Mellon, Vice-Chair
Hans-Henrik Eigtved, Nordea, Vice-Chair
Steve Davies, Bank of America Merrill Lynch,
Paul Chapman, Barclays Capital
Alan Cameron, BNP Paribas
Stewart Nineham, Citi
Ulrich Stritzke, Credit Suisse
Arnaud Quercy, Deutsche Bank
Bill Scrimgeour, HSBC
Mark Bratt, J.P.Morgan
Phil Davies, Morgan Stanley
Kathy Wallis, RBS
Urs Stähli, UBS
Sandra Betocchi, UniCredit
Committees
Clearing Committee
Settlement Committee
Custody Committee
Legal Committee
Tax Committee
Contact
Werner Frey, Managing Director
werner.frey@afme.eu
+44 (0)20 7743 9351
Jane Levi, Managing Director
jane.levi@afme.eu
+44 (0)20 7743 9322
Christian Krohn, Director
christian.krohn@afme.eu
+44 (0)20 7743 9303