Anneke Kosse is a Senior Economist at the Secretariat of the Bank for International Settlements’ Committee on Payments and Market Infrastructures. Her portfolio includes conducting research and supporting the Secretariat’s policy and standard-setting work in the field of digital innovation in payments, covering topics such as tokenisation, central bank digital currencies, and stablecoins. Previously, Anneke worked at the Bank of Canada, most recently as a Research Advisor leading the Bank of Canada’s research agenda for the modernisation of the Canadian payments system. Prior to that, Anneke worked for nearly ten years at the Dutch Central Bank as a Researcher and Policy Advisor. Her payments research has been published in various peer reviewed journals. Anneke holds a PhD in Business and Economics from Tilburg University and she is a Deputy Editor of the Journal of Financial Market Infrastructures, the first journal to specialise in publishing peer-reviewed research in financial market infrastructures.
Roundtable Room 3 (Level 3)
Open
Distributed ledger technology (DLT) is frequently highlighted as a game-changer for financial market infrastructure (FMI). Yet, despite numerous pilots, proofs of concept, and even some production deployments, it has (yet) neither replaced nor fundamentally transformed today’s financial markets. Rather, DLT has remained limited to niche applications.
Which key elements are still missing, or are insufficiently mature, to enable DLT to truly reshape FMI? Is the main hurdle the current regulatory framework, or do challenges around standardization, interoperability with legacy systems, scalability, governance, and proven use cases with sufficient value bear the greatest responsibility?