Our Experts
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Anthony Scianna
- deputy head of strategy
- SunGard’s capital markets business
- anthony.scianna@sungard.com
Tony Scianna is deputy head of strategy for SunGard’s capital markets business. He represents SunGard in industry groups and provides market insight to help shape business strategy and product development. Mr. Scianna was previously executive vice president of product management and marketing for SunGard’s Brokerage and Clearance business. Prior to joining SunGard, Mr. Scianna was the chief operating officer of Refco Securities. During his more than 25 years in the financial services industry, he has held positions in operations and technology at Hornblower, Weeks, Hemphill & Noyes, Loeb Rhodes and Spear, Leeds & Kellogg.
Mr. Scianna has extensive knowledge of global securities and derivatives processing, brokerage operations and data management. He also has deep experience in helping firms manage regulatory change, expand their businesses globally and improve their middle- and back-office operations.
Commentary
Recent regulatory developments are the single largest event taking place in our industry today. As a result of the economic crisis, regulators around the world are making sweeping changes, affecting how financial institutions will be expected to do business in the future. It’s not surprising that every industry working group is responding to numerous requests for comments from around the world.
Market participants are tracking a broad range of developments, including the shift of OTC derivatives to a cleared model; collateral optimization; new trade reporting requirements; and the creation of new bodies such as Swap Execution Facilities (SEFs) and swap data repositories (SDRs). Financial services firms need to prepare for what lies ahead – from both rules that have been announced and those that are still being devised.
The financial markets are still analyzing the scant details of the new financial and accounting rules, which include Dodd-Frank, Basel III, IFRS and EMSA (ex-CSER). However, it is clear that both new and existing reporting organizations, including the newly formed European Banking Authority (EBA), European Securities Market Authority (ex-CESR), Office of Financial Research (OFR), and SDRs, will require new and more frequent reporting. A strong enterprise data management framework will be fundamental to being able to manage whatever develops.