This paper discusses the progress made towards T+1 and instantaneous settlement in financial markets, and industry preparedness for such a change. We cover the various equity settlement technologies and analyse how collateral, stock lending and margin requirements can impact the settlement...

This study, which follows from our initial assessment of the API economy in banking (Zachariadis and Ozcan, 2017), explores the changes that incumbents and new entrants experienced in the banking sector following the announcement and implementation of open banking and PSD2 in the UK and EU

This briefing paper examines the issue of duplicate financing fraud in trade finance. It discusses the concept of duplicate financing, along with its implications for the real economy and its role in widening the trade finance gap. Potential approaches or solutions to address duplicate financing...

This report examines the market landscape for digital assets, including digitally recorded traditional securities and cryptographically secured tokens that represent the building blocks of the future tokenized economy. It shows that markets for decentralized assets are currently more costly and...

Recent years have witnessed the emergence and rapid growth of a large, diverse, and constantly evolving shadow payment system. The shadow payment platforms (SPPs) that populate this system perform many of the same core payment functions as conventional deposit-taking banks: including custody,...

This paper examines whether a partnership comprising public and private sector organisations (PPP) can improve information sharing between those sectors and be effective in combating money laundering and terrorism financing-related crimes, using Australia's Fintel Alliance as a case study.The...

Research published by the SWIFT Institute in August 2017, titled “Sharing Insider Threat Indicators: Examining the Potential Use of SWIFT's Messaging Platform to Combat Cyber Fraud” proposed a protocol for sharing insider threat activities between financial institutions. Building from the...

The authors propose a dynamic hierarchical linear model (DHLM) to study the variations in the costs of trade finance over time and across countries in dynamic environments such as the global financial crisis of 2008-2009. The DHLM can cope with challenges that a dynamic environment entails:...

In this paper we seek to do two things. Firstly, by exploring the fundamental properties and various applications of open application programming interfaces (APIs) mentioned in extant literature, we articulate what are the relevant theories that give rise to the new organisational structures and...