Securities Clearing & Settlement

The opening of the financial markets, the new possibilities of international trading and prescriptive changes (for example TARGET2 Securities, CCBM2 and MiFID) have, as an immediately consequence, the increase of the plaintiffs involved in the processes of post trading, from here  the necessity to provide yourself with flexible instruments which can manage different exigences. 

The extreme fragmentation of markets and systems, supported by the strong increase in the access to the dark pool, bring to an increase of the operating risk and pricing, as well as a greater complexity in managing the processes which involve the opposite parties.

In this scenario, the automation and an efficacious operating control of the processes of Clearing and Settlement is nowadays an element that makes the difference in order to face the increasing market risks and operating management costs.

Moreover the plurality of Clearing & Settlement systems impose on dealers to use more and more sophisticated, flexible and modular management instruments and procedures.

TAS solutions, used with success by the greater Italian banking groups, manage in an automatic way the Clearing & Settlement of securities and they can: 

• provide in real time the complete automation of the operating processes for the all life cycle of  the Securities Clearing & Settlement operations
• interact, independently from the adopted procedures and standard, with different interlocutors as:
  • International systems of payment and settlement  (Monte Titoli, Euroclear, Clearstream, etc.) 
  • Depositary banks 
  • pre-matching systems
• focus, thanks to their modular structure, on the functions which are more important for the investment bank and broker, in comparison with the necessities of a custodian bank
• provide the complete integration between internal processes and communication channels on all the life cycle of the post trading, beginning from the capture of the operations from markets and opposite parties (for the OTC trade), through the pre-match functions up to the management of the settlement instructions
• standardize the modalities of communication of the opposite parties
• integrate user applications to allow the correct management of the Post-Trade procedures
• provide parametric environments for the management of operating specializations towards the different opposite parties and markets.

The solutions concerning Clearing & Settlement offered by TAS are optionally at disposal in full outsourcing at our own datacentre of Milan and London through the Plug & Go service.