We have commented in this book on the fact that not only the regulatory environment changes have created the need to change to the custody and administration product and how this creates challenges for the teams providing the services. We have also seen changes in the market infrastructure such as the T2S project which is creating a single platform for securities and cash settlement (
https://www.ecb.europa.eu/paym/t2s/about/about/html/index.en.html) with a significant challenge for custodians as well as the growth of CLS Bank in the FX settlement space (
https://www.cls-group.com)
Another potential key change will be in the area of technology and particularly the block chain or distributed ledger technology (DLT) space.
While it is early days, the potential to radically change and improve the efficiency of the post trade environment is gaining support and interest for example look at the following press release.
SWIFT has published a most interesting paper on the whole question for DLTs, what the current status is, and what R&D is needed to bring the concept to fruition.
Appendix 11 contains the paper. There is much change happening and in the pipeline and administrators and custodians will need to meet the challenges and provide the solutions. Watch this space!