Straight Through Processing for Trade Instructions
The MX team developed on-site for the client an asp.net web-based securities financing messaging system incorporating all the best of breed technologies to enable a major European London based securities lending client to STP and manage all its trade instructions through to its agent custodians. The application holds all the Standard Settlement Instructions (SSI’s) which are managed by a highly functional user interface. Mapping enabled the business to bulk lend fund positions and cross-border trade settlement improving revenue income and reducing operational staffing costs. Operations staff are able to monitor trade flow, controlling release of pre-pay collateral trades and receive automated warnings when trades are failing by receipt of Swift status messages. Implementation of the system enabled the business to rapidly increase trade volumes by over 200%.