SPGI - S&P Global Market Intelligence to Collaborate with DTCC on T+1 Offering | Benzinga
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 ...