[ G C
GC: Are you seeing the meaning of what it is to be a central secu-
rities depository (CSD) changing?
PS: CSDs are now being regulated by the CSDR, which has
imposed a number of restrictions on how CSDs can change their
models. I believe that this sort of regulation helps us in becom-
ing even safer places for assets, and opening up to a larger group
of financial institutions. As a market infrastructure, we often
find ourselves in a position where we fill spaces left by other fi-
nancial institutions who were not able to fulfil regulatory stand-
ards. But we are also positioning ourselves in different areas, all
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within the limits of CSD regulation. One example being that we
are much more involved in securities financing today.
GC: Lastly, what makes a great working day?
PS: Seeing my family in the morning. No operational issues and
knowing clients are happy. Seeing the team working well and
harmoniously. As well as doing some sports, either midday or
in the evening. I am a modest triathlon athlete (I do the Olym-
pic distance), which is great to freshen your mind. Then in the
evening, if I deserve it, a good glass of wine.
Fall 2018
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