| | December 20188CIOReviewhe financial services sector, especially capital market, has always been the first to adapt to any newer technology. This is because of the structural complexity in which it operates. Years ago, the entire trading life cycle was being executed through paper-based manual system till it was replaced by computerized workflow-based systems. Internet based order entry systems were made available for the buyers in early 2000 which improved the cycle time. Today, there are number of straight-through platforms operating in this market to support activities such as order management, trade settlements, commission calculation and client reporting. More focus has been given to build efficiency in product and trade life cycle processes so that it can reduce trade settlement time and manage the market risks more effectively. Not much innovation was done from buyers' perspective, especially related to inves-tors' awareness and client relationship. Digitalization is expected to bridge these gaps resulting in bringing more investor participation in the market.Simplify the operations through Digitalization and AutomationLast few decades, the market participants have tried to structure their operating models into more independ-ent functions or silos to address the scalability challenges. TIN MY OPINIONTRANSFORMATION OF MARKET OPERATIONS THROUGH DIGITALIZATIONBy Suvrata Acharya, SVP, NIIT TechnologiesOverall operation has been broken into front, mid-dle and back office, each of having its own process-es. These processes were moved inside the dis-joint platforms to handle increasing scalability. Resulting in a complex operating model and increased risk of failure. To minimize the impact of risk on economy, financial regulators brought in new governance poli-cies, adding more complexity to the already complex model. The complexity is the main deterrent force for the new entrants in the market. The simplification of the overall model is possible through digitalization and automation. Digitalization will break the silos through efficient orchestration of processes across diverse platforms. Since the core principle of digiti-zation is around client centricity, it will attract more
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