DTCC and SSImple automate standing settlement instructions ahead of Europe's move to T+1
DTCC and SSImple have partnered to automate Standing Settlement Instructions (SSIs) to prepare for Europe's T+1 settlement cycle.Summary
The Depository Trust & Clearing Corporation (DTCC) has announced a collaboration with SSImple to help custodians automate the submission of validated Standing Settlement Instructions (SSIs) into DTCC's ALERT database. This initiative aims to enhance data accuracy and reduce settlement risk as the industry prepares for Europe's shift to a T+1 settlement cycle. The collaboration leverages SSImple's SSI Comply product, which is compliant with the Financial Markets Standards Board's (FMSB) Core Principle 1, to provide a managed, clean SSI flow. Val Wotton of DTCC emphasized that automating SSIs is foundational for market resilience. Bill Meenaghan of SSImple noted that this partnership enables custodians to achieve automation efficiently without a heavy technology lift. Ultimately, the collaboration supports safer, more resilient settlement processes and positions market participants to navigate the transition to T+1 with greater confidence.
(Source：Finextra)