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Sunil Hirani is the founder and CEO of exchange operator trueEX.

How will the new year be known?

The new year will be known as the year of unprecedented political change.

What do you see as the next industry watershed for 2017?

There are two major items in 2017 that will be big in determining how the industry moves forward, both on a broader scale and more targeted. The first is how the Trump administration approaches de-regulation across the industry and particularly any unbundling that may occur with Dodd-Frank. Certain regulation has created more barriers to entry for fintech startups, but it is also imperative that deregulation has the potential to make the financial services industry more efficient. The other is how the Commodity Futures Trading Commission will move forward following CFTC Chair Timothy Massad’s resignation on January 20. This will have major implications for the OTC derivatives space and how it is regulated moving forward.

 

What do you view as the most important lesson of 2016?

The most important lesson of 2016 was that unexpected events are happening with greater regularity and have significant geopolitical and economic impact: Brexit, Trump, Colombia, India’s de-monetization, and the beginning of the rising rates. All these created greater volatility and uncertainty. The lesson learned is that the unexpected is becoming the expected.

Which hot topics/hype should be left in 2016?
Whether or not tier-one banks should work with firms specializing in fintech. This is a topic that was debated throughout 2016, but by now we should know that it’s inevitable. Banks will view fintech as opportunities to partner rather than potential disrupters.