Custody Risks 2023 Working Group


The purpose of the Working Group will be to curate a unique piece of informative and didactic material about the capital markets ecosystem, created by and for practitioners and counterparties in the custody business.


The scope will be to develop a new report that will build on the basis of the  2016 ‘Inherent Risk within the Global Custody Chain’ document as fundament and supplement it with observations from the Working Group participants on new and emerging risks within the value chain. The participants aim to curate this document for educational, best practices considerations and awareness purposes.

Key Deliverables

The key deliverables will be:

  • A new ‘Inherent Risk within the Global Custody Chain’ report
  • Inclusion in the report, or links, to relevant topics covered by other ISSA Working Groups (e.g. FCC, Cyber Risk, etc.)
  • Additional content adapted to social media channels
  • Webinars to support the main topics in the report

Key Outcomes

  • To inform and educate ISSA members, as well as those who have regulatory responsibility, about the new and emerging risks within the Global Custody value chain.

Reports/ Podcasts

Report «Cyber Security Risk Management in Securities Services» (10/2018) > PDF 929 kB
Inherent Risks within the Global Custody Chain (02/2017) > PDF 1.9 MB

Working Group Co-Chairs

Andy Smith, BNY Mellon
Emma Johnson, JP Morgan

Executive Sponsor


Institutions represented by Experts in the Working Group

  • HSBC Holding Plc
  • Central Depository Services (India) Limited
  • CIBC Mellon
  • Deutsche WertpapierService Bank AG
  • Digital Asset Holding, LLC
  • Euroclear
  • Intesa Sanpaolo Group / Privredna Banka
  • ISSA
  • JP Morgan
  • Northern Trust
  • S&P Global / IHS Markit
  • SEB Group
  • Standard Chartered
  • The Bank of New York Mellon Corporation
  • The Depository Trust & Clearing Corporation
  • UniCredit S.p.A.