Global securities services players have evolved to play a critical role in capital markets, making them ideal partners for clients that want to operate across global securities markets and in multiple asset classes. The financial crisis has had an adverse impact on their functioning in the form of rising cost-income ratio, drop in margins, and increased regulations. Firms are implementing large scale transformation projects in the form of offering new value-added services, entering into strategic alliances, and executing technology transformation to remain competitive and viable in the future.