Moving to a T+1 settlement cycle will increase pressure on financial services operational teams and technology infrastructure. A significantly reduced investigation window means organisations can choose to either significantly increase operational teams or to introduce more systemic pre-matching, fails prediction and fails prevention.
AccessFintech’s Synergy solution is ready to help you absorb this additional effort whilst maintaining an efficient workflow that adheres to a T+1 settlement cycle.
Multiple Tier 1 banks, custodians and asset managers have already reduced their trade fail rates and, by joining the Synergy network, your organisation can do the same. Working with the Synergy network ensures data transparency, supports data collaboration and introduces clear and efficient workflow collaboration. This combination is proven to lead to increased timely settlement and optimised transaction costs.
Data publishers across brokers and custodians
Data receivers across the buyside
Transaction updates per day
Reduction in email traffic
Reduction in high risk fails
Reduced time to investigate mismatches
More preventable fails
Increased capital lock up
More manual effort
Technology infrastructure demand
Full lifecycle data transparency
Fails prediction and prevention
Integrated, single UI workflow collaboration
MI & analytics
The market is benefitting from AccessFintech’s Securities solution, which seamlessly supports organisations facing challenges linked to T+1 settlement. AccessFintech’s securities solution offers full data transparency through the matching and fails window, offering data pairing to support enhanced pre-matching and reduce fail rates.
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.
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.
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 until COB T+1. Losing the investigation time on.