Fundamentally, the emergence of a digitally-native infrastructure will quicken the pace of digitization. Just as liquidity begets more liquidity, digitization will drive more digitization.
The joint application of cloud computing, APIs, SaaS models, advanced data analytics and DLT post-trade infrastructure will usher in an era of open capital markets and open asset management akin to the open banking trend. Similarly, friction and costs will be reduced, and markets will become more open and accessible which will exponentially increase liquidity and the velocity of transactions.
While this dynamic is inherent to the growth of a cross-section of asset classes, we expect that the scale and scope of these changes driven by a fundamental rewiring of the CM infrastructure will be unprecedented.
Read more on the new global financial system, here.