Securities Position Management Across Multiple Custodians

This document is a technical report that discusses the complexities and challenges of securities position management across multiple custodians. It outlines the issues faced by institutional investors and banks, such as fragmented data formats, inconsistent reporting standards, and operational risks. The report details the experience of Intesa Sanpaolo in managing its portfolio, highlighting the use of a hybrid solution that combines third-party software with in-house applications for effective collateral management. Furthermore, it presents feasible solutions, including data aggregation systems, automated reconciliation software, and the need for internal standardization. The report emphasizes the importance of collaboration among stakeholders, including custodians and regulators, to promote uniform standards and transparency. It concludes with a call for systemic changes and the potential adoption of innovative technologies to enhance efficiency in position management.