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Xceptor and Delta Capita Unite to Streamline T+1 Settlement

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Data automation platform provider Xceptor has announced a partnership with Delta Capita, a global provider of managed services, technology solutions, and consulting to the financial services industry, aimed at helping financial institutions prepare for the T+1 settlement deadline of 28th May 2024.

The partnership, which will leverage Xceptor’s data automation platform and Delta Capita’s expertise, aims to offer financial firms a wide range of benefits such as streamlined post-trade processes, reduced manual errors, and improved compliance with T+1 settlement requirements. The partnership will also help clients in their post-trade operations by providing enhanced speed and accuracy in capturing and validating standard settlement instructions (SSIs), simplifying trade confirmations, and facilitating efficient block allocations.

“We’ve been aware of Delta Capita’s presence across the Capital Markets ecosystem, and this was fundamental to us formulating this strategic SI partnership,” John Bevil, Senior Product Manager at Xceptor, tells TradingTech Insight. “We’ve now deepened our collaboration to address operational bottlenecks arising from T+1, as several mutual clients have highlighted their ongoing challenges. In response, Xceptor offers automation solutions, while Delta Capita contributes with their service architecture, covering both consultancy and delivery aspects. Together, we aim to optimise strategies for organisations grappling with T+1 challenges and lingering issues from CSDR.”

He continues: “As we transition through the test phase and delve deeper into the implications of T+1, firms are shifting from a strategic perspective to a more tactical one. They’re now encountering tangible challenges and are actively seeking solutions. In the short term, firms are concentrating on tactical fixes to navigate through the intricacies of testing and emerge successfully on the other side.”

Getting a handle on data is an essential factor, says Bevil. “The primary challenge with T+1 currently stems from data inefficiencies and the varied data formats persisting in the ecosystem. Xceptor’s role is to transform this scattered, unstructured data into a business-ready format. In the T+1 landscape, the continued presence of emails, spreadsheets, and PDF documents hinders efficiency, especially when quick value realisation is crucial. This is particularly evident in areas like confirmations, affirmations, and other traditional post-trade activities. Moreover, many standard settlement instructions (SSIs) still exist in PDFs, outside the standardised utility model. In collaboration with Delta Capita, we aim to help firms streamline and automate these currently inefficient processes.”

Karan Kapoor, Global Head of Regulatory and Risk Consulting at Delta Capita, commented: “Ongoing fines and penalties related to CSDR, coupled with a lack of preparation for the T+1 deadline is causing industry-wide concern. By combining Xceptor’s market-leading data and process automation platform with Delta Capita’s extensive experience of working with global financial institutions and network of industry experts, we are excited to be bringing to market a solution that will address these concerns and drive efficiency to the management of SSI infrastructures. The solution will also significantly reduce the time needed to complete multi-asset trade confirmations and block allocations, guaranteeing that financial institutions are fully compliant with CSDR and ensuring a smooth transition to T+1.”

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