S&P Global Market Intelligence is set to link its Onboarding Accelerator onboarding platform to DTCC’s ALERT, with the goal of supporting clients impacted by the upcoming US T+1 requirements.
Through the partnership, 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. SSI status information for trade permissions will be available through an ALERT API.
SSI status queries can be executed from the point of account opening and throughout the trade lifecycle, which S&P Global stated will reduce trade breaks and settlement fails and increase efficiency and transparency.
Brittany Garland, head of regulatory and compliance for enterprise solutions at S&P Global Market Intelligence, added that the partnership “will streamline a manual, antiquated process”.
Bob Stewart, executive director of institutional trade processing at DTCC, commented: “Connecting client reference data with SSI instruction statuses helps market participants to address discrepancies that could impede or delay settlement.”
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