On-demand analysis of industry settlement data helps clients
assess improvements
WINDSOR, Conn. , March 11,
2024 /PRNewswire/ -- SS&C Technologies
Holdings, Inc. (Nasdaq: SSNC) today announced the rollout
of its comprehensive T+1 preparedness scorecard. Leveraging data
from top industry utilities, SS&C's tool enables clients to
assess whether their post-trade settlement processes align with
current market practices. The in-depth scorecard delivers insight
into possible bottlenecks and post-trade areas clients may need to
improve for T+1 compliance in May
2024.
"SS&C's T+1 scorecard helped us assess our processes and
come up with ways to improve them," said Jason Roslin, Head of Operations at Taconic
Capital. "We look forward to relying on this tool to continuously
assess our counterparties and delivery rates to ensure our
workflows are always in the best shape."
The new Securities and Exchange Commission requirements to
shorten the settlement cycle for U.S. equity and corporate markets
to the end of the business day requires market participants to
adopt faster straight-through post-trade processes. SS&C's
scorecard analyzes the client's current post-trade execution
workflow, including trade capture timing, matching and affirmation
data, as well as a trade communication review.
The review helps the client:
- Identify anomalies within the post-trade process impacting T+1
readiness;
- Assess trade delivery timing to ensure timely matching with
executing counterparties;
- Analyze confirmation and affirmation STP rates of
counterparties;
- Examine the flow of downstream custodian and prime broker trade
communication to determine any required enhancements;
- Evaluate custodial relationships lacking self-affirming
workflow to enable auto-affirmation flow
"The industry is working hard on preparing for the
implementation of a shorter T+1 trade settlement cycle, and our
comprehensive scorecard allows them to quickly assess where they
stand as well as any remediation steps they may need to take," said
Parthiv Patel, Managing Director,
SS&C Technologies. "As part of SS&C's Trade Matching and
Settlement Solution, the T+1 scorecard offers clients a useful way
to benchmark their post-trade processes against the industry. We
are committed to working with all of our clients on a consultative
basis to help them make their trade processes more efficient."
SS&C's Trade Matching & Settlements Service fully
supports post-trade execution functions such as trade
matching/affirmation, trade communication and settlements/fails
management for more than 150 clients. Available as a stand-alone
service or in conjunction with other SS&C fund services,
SS&C's solution automatically integrates with numerous matching
platforms, supports multiple formats of trade instructions delivery
and captures real-time settlement statuses from custodians and
prime brokers. The solution is backed by SS&C's global staffing
model, allowing international clients trading in the U.S. market to
address booking issues on the trade date.
Learn more about SS&C Trade Management & Settlements
Service here.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale and technology
Additional information about SS&C (Nasdaq: SSNC) is
available at www.ssctech.com.
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SOURCE SS&C