JGB market participants have been ramping up preparations to migrate to a T+1 JGB settlement cycle, the biggest change to Japan's securities market plumbing in recent years. Operating models that utilize utility services are emerging as a means of maintaining competitiveness.

Emerging economies recovered from the global financial crisis relatively early to spearhead global economic growth. Over the past few years, however, their fortunes have changed in the wake of China's economic slowdown and declining commodity prices. NRI's Tetsuya Inoue spoke to Wharton Professor Bulent Gultekin about the structural economic challenges facing emerging economies and how they can play a bigger role in long-term rebuilding of the international financial architecture.