The partnership between SSImple and Delta Capita aims to address long-standing challenges in the securities finance industry by automating and streamlining the standard settlement instruction (SSI) process. This will improve efficiency, accuracy, and regulatory compliance in post-trade operations.
The partnership between SSImple and Delta Capita in the field of securities finance technology highlights the importance of sustainable and environmentally friendly practices in the financial industry.
In recent news, Software-as-a-service distributed ledger technology platform SSImple has announced a partnership with Delta Capita to develop a holistic solution for standard settlement instruction (SSI) management. This collaboration aims to improve efficiency, accuracy, and regulatory compliance in post-trade operations, while addressing long-standing industry challenges such as manual processes, settlement failures, and operational risks.
SSImple offers a user-friendly graphical interface that allows users to add SSIs easily. It also provides options for Excel upload and download, as well as application programming interfaces capabilities. Additionally, users can access an open-permissioned industry SSI repository, which can be made available to any legal entity approved by the client. The service includes industry standard rules based on the place of settlement and security type.
The need for a robust SSI management process has become increasingly important due to significant penalties issued to financial institutions for settlement fails under the CSDR’s Settlement Discipline Regime in 2022. Furthermore, the upcoming implementation of T+1 settlement in the United States and Canada in May 2024 has further emphasized the urgency for automation in SSI management. With a much shorter settlement timeframe and a reduction in post-trade operations time, automating SSI management has become imperative for an efficient settlement process.
Karan Kapoor, global head of regulatory and risk consulting at Delta Capita, acknowledges the industry-wide concern regarding ongoing penalties related to CSDR and the lack of preparation for T+1 settlement. By combining SSImple’s solution with Delta Capita’s experience in working with financial institutions and networking with industry experts, they aim to bring a solution to the market that will address these concerns and enhance post-trade efficiency in SSI management.
This partnership between SSImple and Delta Capita not only demonstrates the commitment of the financial industry to improve operational processes but also highlights the importance of sustainability and environmental responsibility. By automating and streamlining the SSI process, firms can reduce paper usage, minimize manual errors, and enhance regulatory compliance, contributing to a more sustainable and eco-friendly financial ecosystem.
In conclusion, the partnership between SSImple and Delta Capita in the field of securities finance technology represents a significant step towards improving efficiency, accuracy, and regulatory compliance in post-trade operations. By automating and streamlining the SSI process, financial institutions can address long-standing industry challenges and contribute to a more sustainable and environmentally friendly financial ecosystem.