This year’s winner of Ops Business Person of the Year Tom Carey, who is president of Global Technology and Operations (GTO) at Broadridge, thinks that post-trade securities operations are in a state of evolution and not a revolution.
“I think given the size of our industry and how we look, we are in a state of evolution,” says Carey who spoke to FTF News during the awards gala at the Loeb Boathouse in Manhattan’s Central Park. The award Carey won is one of the top honors of the FTF News Technology Innovation Award, which annually celebrates excellence in securities operations.
“If you think about the needs of every firm to reduce costs, improve operations, and globalize, that’s going to be done in steps, effectively. I think they’re looking for industry partners to help them do that,” Carey adds.
The interview, conducted outside in Central Part, encompasses:
- The application of next generation technology in advancing the ABCD’s of innovation: Artificial Intelligence, Blockchain, Cloud and Digital
- What Broadridge learned from its product testing of bilateral repo trading via the blockchain with Wells Fargo, Natixis and Société Générale;
- Broadridge’s Global Post Trade Management (GPTM) solution and how the market reacted to it;
- Further automation of the settlement process;
- The consolidation in the asset servicing space;
- And the LIBOR transition/replacement process.
Lastly, Carey reveals what he likes best about his position at Broadridge.
Click on the image above to watch the entire interview.
Videography by William J. Poznanski, Jr.
Video editing by Janene Knox
Interview conducted by Eugene Grygo, chief content officer, FTF News & FTF
Co-Producers: Sarah Hathaway, vice president, FTF and Eugene Grygo