CSDR is live

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Checklist

  • Efficient pre-matching and settlements process in place?
  • All CSDR data attributes identified and sourced as a real time feed?
  • Prioritisation of workflow in place?
  • Single, efficient data sharing mechanism introduced across all stakeholders?
  • Automated/systemic communication and instruction live?
  • All regulatory requirements and market best practice understood and adhered to?
  • Robust audit infrastructure in place for the whole transaction lifecycle?
  • An efficient process to consume and reconcile penalty amounts?
  • All vendors and market participants identified and connected to?
  • Reporting capabilities initiated to show key points of interest, benchmarking, and to support further STP processing?

Full lifecycle management

The market needs a CSDR solution that efficiently addresses the new regulations requirements throughout the full transaction lifecycle. AccessFintech’s CSDR & Penalty Management solution supports adherence to the regulation through eligibility determination, management of cash penalties and a structured process to support raising of queries and appeals.

Pre-matching
Pre-matching
settlement
settlement
penalties
penalties
claims
claims

WITHOUT SYNERGY

WITH SYNERGY

Reduction of mismatches and potential fails
Limiting the impact of CSDR
Controlling the operational impact of fails and mismatches
Creating an efficient CSDR process
Containing the technology budget allocated to support CSDR
Minimising total cost of ownership

Slide “Access Fintech’s collaborative network enables us to systematically communicate real-time data, statuses and requests to our clients and counterparties. In addition to supporting existing settlement activities, this functionality will be a useful tool in determining eligibility and risk projection for buy-ins and penalties to meet expected CSDR requirements when it goes live.”

- Tom Damico, Managing Director Global Equities Operations at J.P. Morgan -

Slide “We chose AccessFintech because we were looking for a CSDR solution that understood and met the needs of a global Asset Manager, with multiple service providers and points of interaction through the whole trade lifecycle”

- Simon Clements , Head of Global Investment Control at Janus Henderson Investors -

Be part of the AccessFintech network

Access to settlement data

  • Real time continuous access to pre-matching and settlement data

CSDR specific data flow

  • Capability to consume, enrich, and publish the 100+ identified data attributes are required through the CSDR lifecycle

CSDR Eligibility Determination

  • Eligibility determined from T0 based on multiple third party golden source data points
  • Daily penalty estimate calculated from T0 to support settlement prioritisation
  • AccessFintech offer connectivity to vendor to source required data points

Penalty tracking and allocation

  • Linkage of penalties to original trades
  • Allocation of confirmed penalties to accounts

CSDR buy-in agent workflow

  • Direct connectivity to buy-in agent

Penalty tracking and allocation

  • Consumption of daily and monthly penalties
  • Linkage of penalties to original trades
  • Reconciliation of daily and monthly penalty amounts for validation
  • Process to identify and link isolated penalties to associated trade
  • Allocation of confirmed penalties to accounts

AccessFintech CSDR Industry Working Group

Our cross industry working group meets monthly and has active participation from 60+ parent level firms and over 120 business entities. Together we:

  • Process mapped and reviewed 17 trading scenarios likely to result in mandatory buy-in scenarios
  • Defined 90 distinct problem statements
  • Collaborated with the market to solve for CSDR

We have built our solution with banks and for banks to ensure AccessFintech’s CSDR solution meets the requirements of buy and sell-side stakeholders and minimises the challenges of the regulation.

Industry Partners
broadridge
clearstream
SIX
symphony

Want to solve in collaboration with your peers?

Register here to join our working group

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AccessFintech Features

Access to settlement data

  • Data handling
  • Vendor and inventory connectivity
  • Internal assignation of exceptions
  • External investigation of exceptions
  • Assignment of actions and requests
  • Analytics
  • Automated workflow

Risk & control

  • Data handling
  • Instructions to component and partner vendor systems
  • Risk categorisation and prioritisation of all exceptions
  • Pairing exceptions from multiple parties
  • Full audit history – both internal and across third parties in the exception and settlement process
  • Potential fail identification
  • Penalty risk evaluation
  • CSDR eligibility evaluation

Penalty management

  • Penalty Estimation Calculation
  • Consumption of daily and monthly penalties
  • Linkage of penalties to associated trade record
  • Penalty Reconciliation
  • Isolated Penalty Identification and Linking
  • Penalty Allocation