Julio Ancochea Blanco
Executive Director | Prime Brokerage & Securities Financing | J.P. Morgan

Julio is an Executive Director within J.P. Morgan’s EMEA Equity Financing business in London, specialising in multi-product financing solutions across Securities Lending, Repo, Total Return Swaps and structured financing.

Having started his career in Operations, Julio progressed through middle-office and trading roles, gaining extensive front-to-back experience across the securities financing lifecycle. This background gives him a broad perspective on market infrastructure, liquidity and the operational complexities of financing transactions.

His current focus is on developing bespoke cross-product financing solutions, expanding access to liquidity and new routes to market, and optimising capital and balance sheet efficiency for institutional clients

Olly left Goldman Sachs in 2015 after a 23-year career in Global Markets where he ran the International Stir Trading and Global Repo Businesses.
He is the Co-Founder and Chairman of HQLAx – a Blockchain Technology business redefining collateral mobility in Securities Lending and Repo markets.
He remains an active investor and advisor to a number of early-stage Financial Technology businesses.

Ina Budh-Raja joined ISLA in December 2025 as Chief Executive Officer responsible for the development of ISLA’s growth strategy and overseeing its core activities to help build a more transparent, efficient, resilient and reputationally robust foundation for the market.

Prior to ISLA, Ina spent 7 years at BNY, across a number of roles including Global Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs, where she was responsible for leading the business’ efforts to identify new opportunities in a changing regulatory environment. Prior to BNY, Ina held both commercial and legal roles across the industry over 20 years, including as managing counsel for securities finance at State Street and Deutsche Bank, covering the agency lending, principal lending, equity finance and money markets desks. Ina is a qualified lawyer with an active practicing certificate (Law Society of England & Wales) and is also a member of the Bank of England Money Markets and Securities Lending Committees and is Co-Chair of the Bank of England UK Money Markets Code Sub-Committee.

Ina was a Director on the ISLA Board from 2019-2022 and was subsequently appointed as Chair of the Board of ISLA from 2022-2025, during which time the organisation grew significantly, with Ina playing a considerable role in the establishment of ISLA’s affiliate, ISLA Americas. She also championed the launch of ISLA’s future talent initiative, ISLA Connects. As well as being ISLA’s first female Chair and CEO, Ina is co-lead of the London chapter of Women in Securities Finance.

Adam Chaput is an Executive Director at Morgan Stanley and EMEA Head of Securities Lending Trading and Supply in London. With more than 10 years of experience in securities lending and equity synthetic financing, he specializes in hard-to-borrow markets, corporate events, and MENA market financing and execution strategies. Prior to London, he managed Morgan Stanley’s US ETF securities lending trading business in New York.

Zhan is a Market Practice and Regulatory Policy Specialist at ICMA, focusing on repo and collateral markets. She leads ICMA’s SFTR Taskforce, working closely with market participants and regulators to support the implementation and ongoing evolution of SFTR reporting requirements. Her wider areas of expertise include US Treasury mandatory clearing, China’s repo market development and sustainable repo, where she contributes to ICMA’s market practice and regulatory initiatives.

James is responsible for client management at GLMX, across Repo, Stock Borrowing & Lending, Total Return Swaps and Money Markets.

Prior to joining GLMX, James was a Managing Director and Global Head of Securities Finance Product Development & Head of Securities Finance – UK for State Street. James held the responsibility for providing development of the business globally and responsible for providing strategic direction of the business in the UK.

James has 25 years of experience in the securities financing industry and was a board member of; The International Securities Lending Association (ISLA), Bank of England Securities Lending Committee, and the Association for Financial Markets in Europe (AFME) Securities Trading Committee.

Previously, James was a Managing Director and Head of Securities Finance EMEA for BNY Mellon. James progressed through a series of leadership roles with Barclays Capital where he was head of equity financing, and head of execution in EMEA and Asia.

Sophia Malaika Fulugunya is Director of Transaction Reporting at Qomply, leading the firm’s transaction reporting managed services division. With previous experience at the Financial Conduct Authority (FCA) and Bovill, she brings extensive expertise across financial regulation, consultancy and regulatory technology.

Specialising in MiFIR, EMIR and SFTR, Sophia works with financial institutions to improve regulatory reporting accuracy, strengthen governance and leverage technology to address operational challenges. A regular industry speaker and panellist, she is passionate about translating complex regulatory requirements into practical, effective solutions and driving meaningful improvements in regulatory data quality.

Matt is a Director and the EMEA Head of Agency Securities Lending Trading at Citi. Matt started with Citi in 1998 in Operations covering FX, Fixed Income and Equities before joining the Fixed Income Finance desk in 2003. He progressed from trading assistant to sales trader covering both lending and hedge fund relationships. He crossed products in 2009 to join the Equity Securities Finance desk and was responsible for managing the supply team for the Prime Finance business from 2014 until he moved across to his current role in Agency Securities Lending in September 2019.

Tony joined ISLA in September 2023 as a Regulatory & Markets Consultant, and in April 2024 Tony accepted a permanent position at ISLA as Director of Market Practice.

Based in London, and working closely with a cross-section of industry stakeholders, Tony is focused on supporting the continuous alignment and further development of ISLA Best Practices. This considers, amongst other things, aspects such as legal frameworks and constructs, digital and technology, market operating models, peer associations’ standards, as well as regulatory impacts (including T+1).

Tony brings with him over 30 years of financial markets experience working in senior operational roles across the buy and sell side. Prior to joining ISLA, Tony was most recently the SFTR SME at MUFG Securities EMEA Plc.

Sebastijan Hrovatin joined the European Commission in 2005. He is currently the Deputy Head of Unit of the Financial Markets Infrastructure Unit in DG FISMA. In former positions, Sebastijan worked in the Banking Regulation and Supervision Unit in DG FISMA and as an economist/chief economist in the private sector.

Gareth is a Director at Euroclear in the Group Strategy, Product and Market Expansion Division. He has over 25 years’ experience in post-trade financial market infrastructure and has worked in a number of business and technology roles at Euroclear. Currently he heads up Product Management for Settlement and Cash at and is responsible for T+1 at the Euroclear group.

Pierre Khemdoudi is the co-founder and CEO of Gentek.ai, a pure-play agentic workflow platform focused on automating complex business processes in regulated environments. Gentek enables organizations to streamline intricate workflows such as regulatory reporting and energy market operations. With over 25 years of experience across capital markets and technology in North America, Europe, and Asia, Pierre has built industry-leading solutions at scale. He previously led the global Regulatory Solutions division at S&P Global, including the transaction reporting product suite, which he took from inception to adoption by over 500 institutions through both organic growth and strategic acquisitions. Earlier, as a Partner at IHS Markit, he led data and analytics solutions.

Paul Landless is a financial markets partner at DLA Piper with extensive experience across derivatives, securities financing, structured products and complex cross-border transactions. His practice encompasses both traditional and digital markets, giving him a strong perspective on the legal and regulatory considerations shaping the evolution of collateral, liquidity and financial market infrastructure.

Farrah joined ISLA in September 2019 and in January 2026 became Head of Advocacy, Public Policy & Regulatory Strategy.

Farrah provides invaluable support to this strategically important part of the Association’s focus, by working with the various workstream coordinators to monitor and assess EMEA financial regulations, including Tax, that have potential to impact the securities lending market.

Farrah reviews regulatory implementation, consultations and manages industry working groups, whilst monitoring updates from policy makers & National Competent Authorities to maintain best practice documentation.

Mathew is global head of Digital Assets. He is responsible for leading the firm’s cross-divisional digital assets strategy, which includes a wide range of client-led tokenization activities, crypto-linked product offerings and blockchain investments. Prior to assuming his current role, Mathew served as global head of Cross Asset Financing. Mathew joined the firm as a vice president in 2005 in the European Special Situations Group in London and was named managing director in 2010. Prior to Goldman Sachs, he worked at Morgan Stanley.

Mathew is on the board of several of Goldman Sachs’ portfolio companies including Coin Metrics, Elwood Technologies and HQLAx, as well as on the advisory board of Digital Asset Holdings. He also serves on the board of the International Securities Lending Association.

Mathew earned a BA (Hons) in Accounting and Finance at Nottingham. He has been a member of the Chartered Institute of Management Accountants since 1999.

Tom Pikett is an Executive Director within DTCC’s Digital Assets business, where he leads product for digital collateral as well as being responsible for ecosystem development. He is responsible for developing and bringing to market innovative digital asset solutions that enable the movement of value and collateral across traditional and emerging financial ecosystems.

Over the course of his career, Tom has held senior product leadership roles working at the intersection of capital markets, collateral management, and digital assets. He has successfully led the delivery of multiple tokenization initiatives into production, including tokenized money market fund solutions, intraday repo capabilities, and digital bond offerings, helping some of the world’s largest financial institutions adopt blockchain-based infrastructure for real-world financial markets.

At DTCC, Tom works closely with market participants, regulators, technology providers, and industry bodies to shape the future of digital collateral mobility and tokenized finance. His work focuses on solving some of the industry’s most complex challenges, including collateral efficiency, liquidity optimization, interoperability, and the modernization of market infrastructure through tokenization.

Tom is a frequent industry contributor on topics including tokenization, collateral transformation, digital assets, and the future of financial market infrastructure. He is passionate about translating emerging technologies into scalable, production-ready solutions that deliver measurable value to the global financial ecosystem.

Over a 25 year period Dan has managed Supply, Hedge Fund Sales Trading and Swap flow desks across Europe and Asia-Pacific offices for several sell side banks. Currently Dan manages the Supply business for European and Middle East markets in BNP Paribas Global Markets, including preparation of the business for the T+1 transition.

Lian Thurlow has significant multi-year experience leading global Operations teams and large-scale change projects. Prior to her current role she spent 12 years at Morgan Stanely and 10 years at Goldman Sachs performing a number of different roles in Operations such as Prime Brokerage, Asset Servicing and Tax, and Transaction Reporting.

She now leads the Global Securities Finance Operations team at Citibank supporting expansion into new markets, onboarding new clients and providing operational support to Securities Finance’s ongoing transformation program.

Jan Treuren has over 30 years’ experience in the custody, clearing and in the settlement industry. He started his career at ING Bank Securities Services within the Paying Agency and Custody department , followed by a 12-year career at Deutsche Bank Amsterdam, where he had various management roles in client services, sales, operations, product management and his last function was Country Head of Direct Securities Services for Netherlands, Belgium, France, Portugal and Dubai.

Jan then moved to EMCF in 2011, where he was responsible for Business Development and Strategy, and following the combination with EuroCCP became Head of Product & Change Management. In 2021, Jan became Head of Operations at EuroCCP NV, where he was responsible for settlements, derivatives, collateral, corporate actions and change management and more recently in 2023, while EuroCCP NV was changed into Cboe Clear Europe NV, became the Head of Product for Securities and SFT Clearing, responsible for the roll-out of the Securities Financing Transaction clearing initiative.

Simon Waddington is currently Global Head of Product, Post-Trade & Regulatory at Equilend. He is responsible for the development and implementation of Equilend’s broad suite of post-trade products as well as regulatory reporting and onboarding/ALD solutions.
Simon has been in the securities finance industry for over 25 years and previously held senior roles as Head of Trading EMEA at RBC Investor Services and Head of Business Development EMEA at State Street. Prior to joining Equilend he was Chief Operating Officer for the International Securities Lending Association.

Chris provides market leadership and support industry progress on the development of a tokenised wholesale financial markets ecosystem, supporting the government’s work to deliver a more efficient and competitive financial sector.
At EY, Chris chairs the Global Regulatory Network and is a Member of the UK Board. He also leads work in financial services and fintech.