Deutsche Bank to create service for securities settlement delays
09 October 2020 London
Image: conceptualmotion/Adobe Stock
Deutsche Bank is set to launch an enhanced securities settlement service that proactively identifies in-flight security transactions at risk of settlement delay.
Due to launch early next year, the new service will enable Deutsche Bank's clients to avoid financial penalties under the upcoming implementation of the new Central 麻豆传媒 Depositories Regulation (CSDR).
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The regulation will require European central security depositories (CSDs) to automatically apply penalties to market participants who fail to complete transactions on the contractual settlement date, with the aim to harmonise aspects of the settlement cycle and settlement discipline.
Deutsche Bank鈥檚 enhanced service will be powered by Elastic Stack and Elastic鈥檚 machine learning and anomaly detection features.
Deutsche鈥檚 Bank鈥檚 director, data products, securities services Christopher Daniels, says: 鈥淥ur aim is to deliver a real shift in how markets view exception processing and to bring pre-trade performance to our post-trade operations.鈥�
鈥淲e can now detect transactions in real-time that previously would not be flagged as at risk, and divert our attention from the transactions that ostensibly appear to be at risk, but upon historical analysis have always matched in time to settle,鈥� he explains.
Dan Broom, area vice president, Northern Europe, Middle East and Africa at Elastic, adds: 鈥淒eutsche Bank鈥檚 partnership with Elastic showcases the innovation that is achieved when deep domain expertise is paired with the Elastic Stack. Our machine learning and anomaly detection technologies are helping to fuel Deutsche Bank鈥檚 innovation and delivering a real game-change in settlement processing.鈥�
Due to launch early next year, the new service will enable Deutsche Bank's clients to avoid financial penalties under the upcoming implementation of the new Central 麻豆传媒 Depositories Regulation (CSDR).
.
The regulation will require European central security depositories (CSDs) to automatically apply penalties to market participants who fail to complete transactions on the contractual settlement date, with the aim to harmonise aspects of the settlement cycle and settlement discipline.
Deutsche Bank鈥檚 enhanced service will be powered by Elastic Stack and Elastic鈥檚 machine learning and anomaly detection features.
Deutsche鈥檚 Bank鈥檚 director, data products, securities services Christopher Daniels, says: 鈥淥ur aim is to deliver a real shift in how markets view exception processing and to bring pre-trade performance to our post-trade operations.鈥�
鈥淲e can now detect transactions in real-time that previously would not be flagged as at risk, and divert our attention from the transactions that ostensibly appear to be at risk, but upon historical analysis have always matched in time to settle,鈥� he explains.
Dan Broom, area vice president, Northern Europe, Middle East and Africa at Elastic, adds: 鈥淒eutsche Bank鈥檚 partnership with Elastic showcases the innovation that is achieved when deep domain expertise is paired with the Elastic Stack. Our machine learning and anomaly detection technologies are helping to fuel Deutsche Bank鈥檚 innovation and delivering a real game-change in settlement processing.鈥�
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