S&P Global Market Intelligence plans to integrate data from the DTCC Alert service in its Onboarding Accelerator platform to make it easier for institutional traders to manage their transactions efficiently, shares S&P Global Market Intelligence in a press release.
With this collaboration, users of Onboarding Accelerator will be able to access standing settlement instructions (SSI) directly through S&P’s platform. This allows them to check the status of their transactions in real-time, from the moment they open an account to the completion of a trade. The goal is to reduce errors and delays in settlements, thereby supporting the move towards the upcoming T+1 settlement cycle.
“Linking Onboarding Accelerator with the industry standard Alert service will bring increased transparency to buy side clients, custodians, and brokers”, states Brittany Garland, head of regulatory & compliance for enterprise solutions at S&P Global Market Intelligence.
Bob Stewart, DTCC executive director institutional trade processing, adds: “Connecting client reference data with SSI instruction statuses helps market participants to address discrepancies that could impede or delay settlement.” The integration between Onboarding Accelerator and Alert is expected to be operational in the first half of this year.