It was concluded in the joint Coordination Forum work in 2020, under the guidance of Riksbanken, that the continued attractiveness and efficiency of the Swedish financial market requires a higher level of European harmonisation. There is a need to close the gaps of the Swedish post-trade processes versus Eurozone standards. As a result, Riksbanken published the report Harmonisation road map for the Swedish post-trade securities market outlining a roadmap of the areas to review. However, the way forward for the Swedish market and its stakeholders is still not clear. The options available and their consequences for the Swedish market require more analysis and joint discussions.
To progress with this work of joint concern, Euroclear has invited the market stakeholders to join a study, performed by Oliver Wyman, to evaluate the potential benefits from various harmonisation scenarios and its impacts on the Swedish financial industry. The work will comprise of a series of interviews, followed by two workshops with market participants, and the objective is to chart a path forward which maintains the competitiveness of the Swedish financial industry and at the same time ensures the stability, consistency and functioning of the financial markets. The final report will be published during Q3 2021.