SSImple, a SaaS DLT platform, has launched a post-trade offering aiming to revolutionise the way standing settlement instructions (SSIs) are stored, shared, and enriched across the financial services industry. With incorrect SSI data or usage accounting for 30% of settlement failings according to industry estimates, the platform aims to mitigate risk, create efficiencies, and reduce costs for custodians, prime brokers, buy-side firms, broker-dealers, and third parties.
SSImple’s platform uses a robust industry rule engine to ensure multi-asset class SSIs are entered correctly. The platform enables automation of SSI delivery, receipt, and permission access, as well as logical enrichment at the point of electronic trade confirmation. By interacting with distributed ledger technology (DLT) databases, SSImple selects the correct SSI based on DLT position keeping records, providing real-time updates and greater transparency.
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