Settlements T1

The Synergy Network is ready for T+1 Settlement.


Shortening the T+1 settlement cycle is a global objective, and we can help you achieve it.

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How Synergy will support your preparation for an accelerated T+1 settlement cycle

 

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

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.

Why join the Synergy Network?

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.

0%
Reduction in all risk fails
0%
Reduction in email traffic

Industry challenges

  • 83% reduction in T+1 settlement remediation time
  • Increased preventable fail rate
  • More time critical manual effort
  • Increased email traffic for non-STP processes
  • Technology infrastructure demand
  • Rising capital lock up

Synergy T+1 settlement solution

AccessFintech’s Synergy T+1 settlement solution is designed to enhance the T+1 settlement workflow 

data transparency
Full lifecycle transaction data transparency

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, enhancing pre-matching
Transaction pairing, enhancing pre-matching

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
Real time fails prediction and prevention

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
Cross market data collaboration

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.

Integrated, single UI workflow collaboration
Integrated, single UI workflow collaboration

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.

Enable benchmarking insights
Data insights

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.

Benefits of Synergy Network solutions for T+1

Maximise STP rates

Maximise STP rates

Adopt efficient exception management through the trade lifecycle

Adopt efficient exception management through the trade lifecycle

Collaborate with counterparts, clients and service providers

Collaborate with counterparts, clients and service providers

Reinforce effective pre-matching processes

Reinforce effective pre-matching processes

Recognise and resolve the root causes of mismatches and fails

Recognise and resolve the root causes of mismatches and fails

Predict and prevent fails

Reduced fails

Volume elasticity

Meet a shorter settlement window

Reduce manual effort

Reduce manual effort

Synergy eradicates common industry challenges

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.

WITHOUT SYNERGY

with synergyWITH SYNERGY

Significant manual investigation, review and correction required over two days to achieve an average 95% settlement rate will become more difficult to sustain with 83% less investigation time.
Comprehensive data transparency and transaction pairing allows for automated investigation from T+0 and evidencable reduction of fails
Extensive email exchanges, chats and cross-organisation calls are required to retrospectively identify the cause of mismatches and fails.
Integrated, data driven workflow collaboration eliminates the requirement for extensive email exchanges to identify exceptions and agree route to resolution
Lack of normalised data, significant manual effort and an email heavy workflow means organisations are unable to consistently determine root cause of failures to prevent reoccurence
Synergy supports generation of data insights to enable identification of thematic root cause and the creation of automated, comprehensive transaction audit histories per transaction

Full Lifecycle Management

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.

Enhanced Pre-matching

Enhanced Pre-matching

Data Pairing

Data Pairing

Settlement

Settlement

Structured Collaboration

Structured Collaboration

MI & Analytics

MI & Analytics

All you need to know about T+1 Settlement

Why T+1 settlement

The market has long intended to shorten the settlement cycle with T+2 previously seen as a good interim step towards that and T+1 the next logical step. A reduced settlement cycle has the potential to protect investors and create efficiencies in the market whilst reducing exposure, risk, and margin/collateral requirements.

What is T+1 settlement

A T+1 settlement cycle refers to a one-day settlement cycle, which is considered faster and more efficient compared to longer settlement cycles. The introduction of a T+1 settlement cycle, as is now partially live in India, being actively considered for the U.S. (ETA 2024), and early stage discussion for Europe.

More about T+1
Impact of T+1 settlement

Achieving the current average equity settlement rate of 95% in the U.S necessitates a considerable amount of manual investigation, review and correction. This significant operational effort is currently applied over two business days, the move to T+1 will shorten the investigation time for settlement discrepancies by an entire day.

Get ready for T+1 settlement regulation change. Request a demo.