Organizations plan to link S&P Global Market
Intelligence's Onboarding Accelerator with DTCC's ALERT with aim of
delivering increased transparency to broker trades and reducing
settlement failures
NEW
YORK, March 13, 2024 /PRNewswire/
-- S&P Global Market Intelligence, a division of S&P
Global (NYSE: SPGI) today announced plans to collaborate with DTCC,
the premier post-trade market infrastructure for the global
financial services industry, to deliver a joint solution to support
clients impacted by upcoming U.S. T+1 settlement requirements. The
organizations plan to link S&P Global Market Intelligence's
Onboarding Accelerator platform with DTCC's ALERT to increase
transparency, efficiency and straight-through processing in the
institutional trading industry.
By linking the services, Onboarding Accelerator users will be
able to query the status of critical standing settlement
instructions (SSI) reference data for a particular account and
market directly within the S&P Global Market Intelligence
platform. The SSI status query can be done at the point of account
opening or at any time during the trade lifecycle, resulting in
less trade breaks and settlement fails and increased efficiency in
support of a T+1 settlement cycle. The SSI status information for
trade permissions will be available via an ALERT API.
"Linking Onboarding Accelerator with the industry standard ALERT
service will bring increased transparency to buy side clients,
custodians and brokers. It will streamline a manual, antiquated
process, maximizing efficiency and minimizing trade settlement
failures," said Brittany Garland,
Head of Regulatory & Compliance for Enterprise Solutions,
S&P Global Market Intelligence. "S&P Global Market
Intelligence and DTCC are committed to increasing efficiency and
transparency and supporting our clients as they navigate the
challenges posed by upcoming tightened settlement requirements in
the U.S."
"Connecting client reference data with SSI instruction statuses
helps market participants to address discrepancies that could
impede or delay settlement," said Bob
Stewart, DTCC Executive Director,
Institutional Trade Processing. "We are pleased to
collaborate with S&P Global Market Intelligence in bringing
this innovative joint solution to market participants around the
world and further supporting our mutual clients as they look to
improve post-trade processes as they work towards a T+1 settlement
cycle in the U.S."
Onboarding Accelerator is S&P Global Market Intelligence's
automated onboarding solution utilized by brokers, custodians,
corporates, fund admins, managers and service providers. The
solution integrates entity data, document collection, KYC and tax
profile validation, regulatory protocols and self-declarations,
legal and credit agreements and operational set up, enabling a user
to minimize operational risk, standardize and automate processes
and provide transparency to counterparties.
With a global community of over 3500 organizations, DTCC's ALERT
is an online global database for the maintenance and communication
of account and standing settlement instructions (SSIs). ALERT
brings consistency and risk reduction to its community of users,
providing access to a growing database with over 15 million SSIs,
of which 53 percent are managed directly by source providers such
as global custodians and prime brokers. Through ALERT's custodian
workflows, custodian banks and prime brokers maintain SSIs on
behalf of their clients, further automating the maintenance of
timely and reliable SSIs from source providers.
For more information and to speak to one of the specialists,
please visit Onboarding Accelerator: Designed to revolutionize.
The integration is projected to go live in H1 this year.
S&P Global Market Intelligence's opinions, quotes, and
credit-related and other analyses are statements of opinion as of
the date they are expressed and not statements of fact or
recommendation to purchase, hold, or sell any securities or to make
any investment decisions, and do not address the suitability of any
security.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the
importance of accurate, deep and insightful information. Our team
of experts delivers unrivaled insights and leading data and
technology solutions, partnering with customers to expand their
perspective, operate with confidence, and make decisions with
conviction.
S&P Global Market Intelligence is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information, visit
www.spglobal.com/marketintelligence.
About DTCC
With 50 years of experience, DTCC is the premier post-trade
market infrastructure for the global financial services industry.
From 20 locations around the world, DTCC, through its subsidiaries,
automates, centralizes, and standardizes the processing of
financial transactions, mitigating risk, increasing transparency,
enhancing performance and driving efficiency for thousands of
broker/dealers, custodian banks and asset managers. Industry owned
and governed, the firm innovates purposefully, simplifying the
complexities of clearing, settlement, asset servicing, transaction
processing, trade reporting and data services across asset classes
and bringing increased security, enhanced resilience and soundness
to financial markets. In 2022, DTCC's subsidiaries processed
securities transactions valued at U.S. $2.5 quadrillion and its depository subsidiary
provided custody and asset servicing for securities issues from
over 150 countries and territories valued at U.S. $72 trillion. DTCC's Global Trade Repository
service, through locally registered, licensed, or approved trade
repositories, processes more than 17.5 billion messages annually.
To learn more, please visit us at www.dtcc.com or connect
with us on LinkedIn, X, YouTube, Facebook,
and Instagram
© 2023 DTCC. All rights reserved. DTCC and DTCC (Stylized) are
registered and unregistered trademarks of The Depository Trust
& Clearing Corporation.
The services described above are provided under the "DTCC" brand
name by certain affiliates of The Depository Trust & Clearing
Corporation ("DTCC"). DTCC itself does not provide such services.
Each of these affiliates is a separate legal entity, subject to the
laws and regulations of the particular country or countries in
which such entity operates. See www.dtcc.com for a detailed
description of DTCC, its affiliates and the services they
offer.
Media Contact
Amanda Oey
S&P Global Market Intelligence
+1 212 438-1904
amanda.oey@spglobal.com
DTCC Media Contact
Madiha Arsalan
The Depository Trust and Clearing Corporation
+1 813 470 2217
marsalan@dtcc.com
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SOURCE S&P Global Market Intelligence