Infographic 03 · The Scaling Imperative

The $278bn FMI Stack

The Financial Market Infrastructure sector is growing as it absorbs tasks once managed in-house by banks and asset managers — and where FEaaS now emerges.

FEaaS 2026
Section 02
Emerging
Financial Engineering-as-a-Service
GenTwo Pro
Advanced financial-engineering tools and expertise — agentic, API-driven product creation and lifecycle management, off the balance sheet.
Payment Systems & RTGS
Swift · Fedwire · SEPA Instant
Real-time fund transfers, reducing the need for costly in-house settlement systems.
Central Securities Depositories
Euroclear · DTCC
Safekeeping expanded into digital-asset custody, compliance reporting and blockchain integration.
Securities Settlement Systems
Delivery-versus-payment
Secure transactional processing that streamlines settlement once handled internally.
Central Counterparties
LCH · CME Clearing
Manage counterparty risk, mitigate systemic risk and provide robust collateralization.
$278bn
in annual infrastructure modernization as banks and asset managers race to replace legacy systems and remain competitive.
New financial rails are emerging — powered by cloud computing, AI-driven automation and API-first platforms — reshaping how products are structured, issued and distributed.