EquiLend adds DLT-based SSI repository using SSImple
05 September 2023 UK
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EquiLend has appointed SSimple to provide a distributed ledger-based SSI repository and management solution which links to its Post-Trade Solutions suite.
The two companies indicate that this collaboration is designed to address the challenges presented by inaccurate standing settlement instructions (SSIs) and to deliver a more efficient and secure trading environment.
In previous articles published in SFT, EquiLend has highlighted how SSIs have been a significant reason for failed trades. To address this concern, the company has partnered with SSImple to gain access to an industry-standard SSI repository, enriched with market validations based on security type and place of settlement (PSET).
SSImple鈥� distributed ledger technology-based solution is built on R3 Corda and offer API connectivity to support data communication between market participants.
EquiLend associate director of post-trade solutions William Daws says: 鈥淐ustodians, prime brokers, and other stakeholders can leverage SSImple鈥檚 cutting-edge platform to manage SSIs effectively and automate SSI data flow to their buy-side clients.
鈥淲e believe this collaboration marks a significant step towards reducing trade failures and enhancing overall trade settlement efficiency.鈥�
鈥淲e are excited about the potential of SSImple鈥檚 open permissioned approach in solving the industry鈥檚 SSI challenges. This partnership reflects our commitment to future-facing industry solutions.鈥�
Bill Meenaghan, SSImple鈥檚 chief executive, adds: 鈥淭he SSImple-EquiLend partnership brings significant advantages to EquiLend鈥檚 clients, providing them with an industry-standard SSI database integrated into EquiLend鈥檚 systems. Our robust rule engine ensures the accurate addition of SSIs, reducing risk of errors in trade settlement.鈥�
The two companies indicate that this collaboration is designed to address the challenges presented by inaccurate standing settlement instructions (SSIs) and to deliver a more efficient and secure trading environment.
In previous articles published in SFT, EquiLend has highlighted how SSIs have been a significant reason for failed trades. To address this concern, the company has partnered with SSImple to gain access to an industry-standard SSI repository, enriched with market validations based on security type and place of settlement (PSET).
SSImple鈥� distributed ledger technology-based solution is built on R3 Corda and offer API connectivity to support data communication between market participants.
EquiLend associate director of post-trade solutions William Daws says: 鈥淐ustodians, prime brokers, and other stakeholders can leverage SSImple鈥檚 cutting-edge platform to manage SSIs effectively and automate SSI data flow to their buy-side clients.
鈥淲e believe this collaboration marks a significant step towards reducing trade failures and enhancing overall trade settlement efficiency.鈥�
鈥淲e are excited about the potential of SSImple鈥檚 open permissioned approach in solving the industry鈥檚 SSI challenges. This partnership reflects our commitment to future-facing industry solutions.鈥�
Bill Meenaghan, SSImple鈥檚 chief executive, adds: 鈥淭he SSImple-EquiLend partnership brings significant advantages to EquiLend鈥檚 clients, providing them with an industry-standard SSI database integrated into EquiLend鈥檚 systems. Our robust rule engine ensures the accurate addition of SSIs, reducing risk of errors in trade settlement.鈥�
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