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Successful transformation must be driven by data collaboration. This means that all parties involved in the process, such as market participants and regulators, need to share and exchange data effectively. One significant trend in the financial markets is the move towards real-time pre-matching. Pre-matching refers to the process of matching trade details and ensuring that they are accurate before the settlement date. By conducting this process in real time, the time and effort required for issue detection and resolution can be significantly reduced.
By adopting real-time pre-matching and enhancing data collaboration, AccessFintech’s Synergy network can pave the way for a successful acceleration of the T+1 settlement cycle in any region and bring about positive changes in the financial industry.
AccessFintech have been awarded the best regulatory solution of the year award for our on-going achievements in our T+1 settlement service.
The Asset Servicing Times awards recognise the achievements of those across asset servicing, celebrating outstanding contributions to the industry from firms and individuals alike.
The Securities Services Advisory Group (TSSAG) independently assessed entries for the 29 awards categories, ensuring objectivity in the final results.
T+1 settlement regulations are soon to be implemented in the United States, the United Kingdom and Europe. These regulations aim to streamline and improve the settlement process by reducing the time it takes for trades to be settled.
AccessFintech’s Synergy network offer a solution that enhances the T+1 settlement workflow. By providing more real-time information from agents and Central Securities Depositories (CSDs), Synergy enables pre-matching and facilitates a smoother transition to the incoming settlement regime. This means that trades can be settled more quickly and efficiently, reducing the risk of errors and delays.
One of the key ways in which Synergy improves the T+1 settlement workflow is by accelerating data visibility on T+0 settlement. Traditionally, settlement information has been delayed, causing challenges for market participants who rely on timely and accurate data. However, with Synergy’s solution, real-time local markets information is seamlessly integrated into the platform. This means that participants can access up-to-date information on trades and settlement processes, enabling them to make more informed decisions and take proactive steps to resolve any issues that may arise.
Synergy’s solution for T+1 settlement regulations offers significant benefits to market participants. By incorporating real-time information from agents and CSDs and enabling pre-matching, Synergy prevents potential discrepancies or errors that can be identified and resolved ahead of time, minimising the risk of failed settlements. This not only improves efficiency but also reduces the likelihood of costly disputes and the need for manual intervention.
As T+1 settlement regulations come into force in the US, UK and Europe, Synergy’s participants can confidently navigate the changing landscape, knowing they have access to the tools and information necessary for successful and timely settlement of trades.
AccessFintech’s Synergy T+1 settlement solution is designed to enhance the T+1 settlement workflow
Full lifecycle data transparency accelerates T+1 settlement by providing real-time visibility, mitigating risks, and enabling efficient reconciliation. It ensures compliance, facilitates timely issue resolution, and enhances operational efficiency, fostering a reliable and transparent financial ecosystem.
Transaction pairing and enhanced pre-matching streamlines T+1 settlement by aligning trade details early. This proactive approach reduces discrepancies, minimizes operational risks, and ensures a smooth settlement process, contributing to the efficiency and reliability of financial transactions.
Real-time fails prediction and prevention enhances T+1 settlement by identifying potential issues before they impact the process. This proactive approach minimizes settlement failures, reducing risks and ensuring a reliable and efficient financial transaction lifecycle.
Cross-market data collaboration optimizes T+1 settlement by fostering information exchange among market participants. This collaboration enhances transparency, reduces errors, and streamlines reconciliation, contributing to a seamless and efficient financial transaction lifecycle.
Workflow collaboration is integral to T+1 settlement, promoting seamless coordination among participants. This collaborative approach streamlines processes, enhances communication, and reduces settlement risks, ensuring a swift and efficient financial transaction lifecycle.
Data insights drive T+1 settlement efficiency by offering valuable analytics. These insights aid in risk assessment, error identification, and process optimization, contributing to informed decision-making and a reliable financial transaction lifecycle.
Maximise STP rates
Adopt efficient exception management through the trade lifecycle
Collaborate with counterparts, clients and service providers
Reinforce effective pre-matching processes
Recognise and resolve the root causes of mismatches and fails
Meet a shorter settlement window
Reduce manual effort
Without Synergy, organizations face a labor-intensive process with heavy reliance on emails and manual efforts, leading to an unsustainable 95% settlement rate. With Synergy, automated investigations and data-driven workflows streamline operations, enhancing transparency and enabling proactive resolution of issues.
The market is benefitting from AccessFintech’s Securities solution, which seamlessly supports organisations in meeting the challenges arising from an accelerated T+1 settlement cycle. AccessFintech’s Securities solution ensures data transparency and collaboration through all securities transactions lifecycle, offering transaction data pairing to support enhanced pre-matching and reduce fail rates.