AccessFintech has introduced a settlement netting feature to its Synergy platform, aiming to improve operational efficiency in the EMEA repo market. Developed with input from JP Morgan, Citi, and other industry participants, the new tool seeks to reduce settlement fails and streamline post-trade workflows, according to a press release.
Settlement Netting allows counterparties to match and net repo transactions using a shared data model and automated processes. It replaces the manual spreadsheet-based methods still widely used in the market, aiming to cut down on asset movements and lower transaction costs. Communication between parties is handled via structured APIs or user interfaces.
JP Morgan and Citi were closely involved in the development of the solution. JP Morgan contributed to the original use case, while both banks played a role in shaping the operational model and data structure, explains AccessFintech in their press release. A broader working group of repo market participants also provided input on design and implementation.
Synergy platform
The Synergy platform captures and standardises transaction data across asset classes, using AI to match records and identify netting opportunities in real time. In addition to repos, the platform can handle transactions in TBAs, cash instruments, and other products.
The launch is part of AccessFintech’s effort to reduce manual processing and improve data sharing across the post-trade lifecycle. By offering tools that link trading firms and custodians through automated instructions, the platform aims to reduce reliance on exception management and manual communication.
