Settling syndicated loan trades, and feeding custody systems with trade funding information, is meant to happen easier as the information handling company introduces electronic messaging into one of its platforms.
JP Morgan Securities Services and Blackrock are the first clients to put the new solution into use. The solution is part of IHS Markit’s Clearpar platform, and goes by the name Custodian Services Messaging.
The electronic messages cover notice of settlement date, settlement amounts and wire instructions to custodians and trustees, the provider writes in a press release.
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