The European Association of CCP Clearing Houses published a profile interview with Sasha Mills, Executive Director of Financial Market Infrastructure at the Bank of England, combining personal career reflections with a forward-looking view on how clearing could evolve over the next decade. Mills pointed to technology-driven gains in efficiency and resilience across risk management, innovation and regulation, including improved risk models using artificial intelligence, extended settlement hours, smart contracts with defined settlement windows and expanded collateral. She also highlighted the potential for AI-driven operational resilience testing and, if standardisation is achieved, faster processes, lower costs and greater transparency, while noting ongoing questions such as trapped liquidity and monetisation that will require industry collaboration. On regulation, she emphasised that supervisors will need to adopt and understand new technologies used in markets, with a shift from legislation to rulebooks alongside continued focus on mitigating risks while fostering responsible innovation.
European Association of CCP Clearing Houses 2026-01-14
European Association of CCP Clearing Houses publishes interview with Bank of England executive Sasha Mills on the future of clearing
The European Association of CCP Clearing Houses published an interview with Sasha Mills, Executive Director of Financial Market Infrastructure at the Bank of England, discussing technology-driven advancements in clearing, including AI-enhanced risk models and smart contracts, and the need for regulatory adaptation. Mills emphasized industry collaboration to address challenges like trapped liquidity and highlighted a shift from legislation to rulebooks to balance risk mitigation with innovation.