Press release
SS&C Exceeds 150 Clients on Trade Matching & Settlements Service
Solution ensures fund managers can comply with T+1 trade settlement requirements WINDSOR, Conn., June 7, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc.
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Solution ensures fund managers can comply with T+1 trade settlement requirements\nWINDSOR, Conn., June 7, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that more than 150 clients are using its Trade Matching & Settlements Service to support post-trade execution functions. The growth comes as the U.S. funds industry gears up for trade settlement cycles shortening to T+1 in 2024. \n\n \n \n \n \n \n \n\n \n\"Using SS&C's Trade Matching & Settlements Service has enabled us to ensure we can always meet our trade settlement obligations in the shortest possible timeframe,\" said Guy Fiumarelli, COO – Head of Operations, Itaú USA Asset Management Inc. \"Having a reliable partner focused on continuously updating technology and processes to respond to latest regulatory requirements helps keep our operation prepared.\"\nThe Trade Matching & Settlements Service fully supports post-trade execution functions such as trade matching/affirmation, trade communication and settlements/fails management. 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 service uses best practices for storing, communicating and validating standard settlement instructions (SSIs) across global markets to facilitate timely settlements. \nThis 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.\n \"As a leading provider of middle-office services, SS&C is focused on ensuring our clients are in the best position to meet evolving regulatory requirements. In practice, T+1 means some managers operating in U.S. markets will only have a few hours to match or affirm trades and prepare them for settlement, which can be challenging for firms without established automated matching systems,\" said Parthiv Patel, Managing Director, SS&C GlobeOp. \"By outsourcing their trade matching and settlement processes to SS&C, clients can rest assured they are ready for new T+1 settlement timelines and any changes in market regulatory requirements.\" \nThe industry is responding positively to the latest enhance...