REGnosys at the CDM Showcase: Key Takeaways and Insights 

REGnosys had the privilege of exhibiting at the Common Domain Model (CDM) Showcase in London last month. The event shared compelling business cases of how the CDM is used in derivatives, securities lending and repo markets, including in ISDA’s Digital Regulatory Reporting (DRR) to make regulatory reporting more accurate and efficient. 

Our Founder and CEO, Leo Labeis, outlines some key themes and learnings from this insightful day of keynotes, demonstrations and networking. 

Event themes:  

Industry interest in the CDM is growing in tandem with its adoption. The event was jam-packed, and there was incredible breadth and depth of CDM demonstrations, from financial institutions to solution providers.  

Topics, including the anticipated shift to T+1 settlement in 2027, highlighted the increasing industry pressures to improve market efficiency and, thereby, the benefits of the CDM as a platform for interoperability.  

Given these pressures, industry conversations have moved on from “what?” and “why?” to “how can my firm implement the CDM?” to gain a competitive edge by future-proofing operations.  

Welcome remarks:  

The introduction and welcome remarks were delivered by Georgina Jarrat (Head of FinTech & Digitalisation, ICMA), Matthew Neville (EMEA Head of Agency Lending Trading, State Street) and Bryan Pascoe (CEO, ICMA). The afternoon sessions were restarted with a speech from Andrew Dyson, (CEO, ISLA).   

There is no doubt on the need to create an end-to-end digital ecosystem which can foster a more competitive industry.  

Regarding clients, the lines between products are blurring because what they want is liquidity, and they don't care about format.  

The consensus was that, as with any technology, the adoption of the CDM is being driven by a combination of relevance and ROI, in an environment of growing cost pressures.  

Market participants are becoming more aware that collaborating to solve certain industry issues is the best way forward, saving on both time and cost. The CDM allows to turn the tables on "everybody loves a standard, as long as it is theirs." 

Keynote address from Andrew Douglas, UK T+1 Taskforce 

Andrew Douglas, Chairman of the UK T+1 Accelerated Settlement Taskforce, discussed the UK’s shift to T+1 in October 2027 and the digital transformation of capital markets.  

He pointed out where we are now and highlighted T+1 as a “gateway drug” to digitisation. He outlined that market participants must prepare now by reading the implementation plan, budgeting and executing their plans.  

DRR and Regulatory Reporting 

In this session, Nicholas Moger (Regulatory Technology Product Director, JPMorgan Chase & Co.) demonstrated how DRR is currently in production at JP Morgan and leveraging the CDM.  

He explained the journey of leveraging CDM and emphasised the importance of stakeholder buy-in. After six months of "experimenting,” the basis of the solution was built in only a few weeks. CDM was already 99% there, and in DRR, everything works functionally.  

Nicholas highlighted how DRR has been a game-changer and has realised real benefits such as shortening the UAT cycle, faster discovery and recovery of issues.  

In the same session, Stephanie Rubizhevsky (Head of Product, Novatus Global) presented the use of CDM and DRR for Quality Assurance.  

Innovation in trading and lifecycle management 

Ian Woodgate (Technical Sales Engineer, Digital Asset) demonstrated the integration of the CDM’s workflow into DLT platforms for securities lending and cash transfers.  

Mani Pillai (President, otcDigital) presented the use of the CDM in trading and settlement in the private equity market.  

Stephen Ashworth (Chief Commercial Officer, Tokenovate digital) explored how Tokenovate is operationalising the CDM and how it’s a catalyst for revolutionising post-trade operations.   

Optimising collateral management and unlocking value 

This session demonstrated how the CDM is utilised for the digitalisation of master agreements and collateral documentation.  

Asma Belgaied Hassine (Deputy Director, VERMEG for Banking & Insurance Software) presented how VERMEG integrated the CDM into its COLLINE collateral management system to support the consumption of digitised regulatory initial margin (IM) credit support annexes (CSAs). 

Paul Hands (Chief Technology Officer, Document Risk Solutions Ltd) discussed their live business case, which digitises CSA agreements into CDM.  

Oleg Blokhin (Executive General Manager, Provectus) discussed their protoype of a chatbot designed to assist users in understanding CDM. The Provectus team primed the chatbot with extensive data from CDM documentation and source code.  

Future of the market 

This session demonstrated the use of the CDM workflows for trade lifecycle events. Tom Healey (Financial Services Consultant, ICMA) presented repo settlement using DLT and discussed how to leverage the CDM and smart contracts.  

Matthew Phillips (COO, Trading Apps Ltd) showed how they’ve developed a channel in TA.Link that supports CDM payloads and how they’ve effectively implemented all products and stages of the trade lifecycle.  

Daniel Ivanier (Founder & CEO at Fragmos Chain) talked about their platform that combines CDM and Corda DLT to automate post-trade processes, by creating a shared and legally validated description of derivatives trades, leading to a more accurate, efficient, and secure trade process. 

Daniel Schwartz (Managing Partner, FT Advisory) demonstrated how a network like CDMFlow, being prototyped by himself and Plamen Neykov from CLOUDRISK Limited, could be created to power messaging between parties. 

FINOS, ICMA, ISDA, ISLA summary and 2025 roadmap 

The summary and 2025 roadmap were presented by Jane Gavronsky (COO, FINOS), Gabriel Callsen, (Senior Director, FinTech & Digitalisation, ICMA), Tabish Ahmed (Director Solutions Engineering & Delivery, ISDA) and Adrian Dale (Head of Regulation & Markets, ISLA), and closing remarks then delivered by Olivier Miart (Co-head of Digital Transformation, ISDA).  

Collectively, having reflected on the day and the priorities for 2025, they agree that the industry needs to accelerate the adoption of the CDM. 

A big thanks to ICMA, ISDA, ISLA and FINOS for co-organising a seamless and engaging day and also to State Street for hosting! 

At REGnosys, we’re proud to support industry collaboration and innovation in regulatory reporting. As discussions around the CDM continue to evolve, our commitment remains steadfast in delivering the compliance gold standard and driving efficiency through our software platform Rosetta.