Introduction

Capital market digitalisation efforts speeding up

Technological overhauls will have impacts on disintermediation, automation, risk, new products and local currency capital markets

Key findings

Frequent borrowers set to lead digital transformation

Exclusive survey of public-sector issuers reveals widespread plans to test and promote primary market tech projects

1. Fixed income: primary market

Primary bond markets are ripe for renewal

Antiquated issuance process will soon be usurped by new technology. Banks, fintechs and issuers are driving the change

Diverse Air Traffic Control Team Working in a Modern Airport Tower at Night. Office Room is Full of Desktop Computer Displays with Navigation Screens, Airplane Flight Radar Data for Controllers.

2. Secondary market trading infrastructure

Piloting a path to better secondary markets

DLT has the potential to inject long-overdue efficiencies and enhanced liquidity into fixed income market infrastructure

3. The internationalisation of capital markets participation

Digital finance offers hope of internationalising emerging markets

Emerging markets and developing countries to participate more in both local currency and international capital markets

4. Securities lending and liquidity management

How tokenisation can boost the repo markets

New tech can address multiple pain points in securities lending and collateral management

5. Structuring sustainable assets on blockchain

Green bonds and the blockchain: a new way forward?

Blockchain technology could provide the platform for reliable, accessible and updated data on sustainability-linked deals

OMFIF DMI Future of Capital Markets 2022

Authors

Lewis McLellan
Editor, Digital Monetary Institute

Phil Moore
Phil Thornton
Alexandra DeLuca

Editorial and Production

Clive Horwood
Managing Editor and Deputy CEO

Simon Hadley
Director, Production

William Coningsby-Brown
Production Manager

Fergus McKeown
Subeditor

Research

Kat Usita
Managing Director, Research

Mausi Owolabani
Policy Analyst

Marketing

James Fitzgerald
Deputy Head of Events and Marketing

Henna Rattu
Marketing and Events Coordinator

DMI team

Katie-Ann Wilson
Head of Policy Analysis, Digital Monetary Institute

Philip Middleton
Chairman, Digital Monetary Institute

Folusho Olutosin
Commercial Director, Digital Monetary Institute

Sinan Yilmaz
Programmes and Account Executive, Digital Monetary Institute

SDI team

Marcin Stepan
Managing Director, Sovereign Debt Institute

Melissa Roache
Commercial Director, Sovereign Debt Institute

©2022 OMFIF

Strictly no copying is permitted. It is illegal to reproduce, store in a central retrieval system or transmit, electronically or otherwise, any of the content of this publication without the prior consent of the publisher. While every care is taken to provide accurate information, the publisher cannot accept liability for any errors or omissions. No responsibility will be accepted for any loss occurred by any individual acting or not acting as a result of any content in this publication. On any specific matter reference should be made to an appropriate adviser.