SWIFT Accord for Securities
SWIFT's
Accord for Securities is being used by major prime and executing brokers to match equity and fixed income trades executed by the global hedge fund community. Accord for Securities can also be used in other process flows to replace faxed trade confirmations with electronically matched MT 515 messages. The solution can be used between custodians and executing brokers, to match trades originating from investment managers, as well as between executing brokers to confirm and match OTC (over-the- counter) trades that are not automatically cleared by an exchange. Between two prime brokers, Accord for Securities can be used to handle the transition of a hedge fund manager from one prime broker to another.
Accord for Securities improves the timeliness of the pre-settlement matching process, and reduces settlement failure rates. The solution eliminates the cost of fax confirmations, reduces the risk of fraud in the trade amends process, and supports better customer service.
Accord for Securities also provides automated forwarding of matched confirmations to the clearing house (CCP) of your choice, which brings important additional reductions in costs and risks.
Benefits
- Reduced operational risk
- Lower costs
- Ease of access via GUI or API
- Improved efficiency
- Increased straight-through-processing (STP)
- Reduced settlement risk
Extending the proven benefits of Accord matching to equity and fixed income trades
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Tags:
equity and fixed income trades, pre-settlement matching, reducing settlement failure, increased straight-through-processing (STP)
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Company profile
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,700 banking organisations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies.
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