Risk management services provider Acadia has launched Settlement Manager, which it describes as a “central service created to improve settlement efficiency and reduce settlement fails”. According to the press release announcing its launch, the platform will be available to Acadia’s 3,000-plus clients. Settlement Manager will be “the first of many combined initiatives” following Acadia’s acquisition by London Stock Exchange Group (LSEG).

Among many other features, Acadia says that Settlement Manager will allow users to “share confirmed settlement status simultaneously to each party of the margin requirement”, “provide a centralised mechanism to store various forms of settlement instructions necessary for collateral management”, and “eliminate fragmented workflows with automated messaging to bilateral counterparties and their custodians, as well as to triparty agents”.

In addition, this will also be the first time on Acadia’s platform that counterparties can leverage shared Standing Settlement Instructions (SSIs) and shared real-time settlement status. The firm claims that this could “eliminate operational complexity and increase automation across the industry”.