in Domestic and Cross Border Payments Processes
CB.Net, a leading reference data provider, today announced its partnership with Copp Clark Professional, the leading publisher of financial trading and settlement calendars. According to the agreement, content from Copp Clarkâs World Holiday Data ServiceÂ® will be integrated with BankSearchPlus, CB.Netâs international payments directory, enabling financial institutions to prepare payments systems for disruptions caused by holiday break periods.
The World Holiday Data Service component enhances BankSearchPlusâs database of Standard Settlement Instructions (SSIs), Bank Identification Codes (BICs) and national clearing codes. This combined offering will ensure CB.Netâs global financial institution client base continues to have access to the most intelligent and accurate reference data solution on the market.
Copp Clark Professionalâs research team monitors changes in holiday observances and trading hours affecting 158 currencies, 284 exchanges (and markets within exchanges) and 340 financial centres.
Ian Dunning, Managing Director, CB.Net comments: âCorrect and up-to-date holiday data is vital to the smooth running of banksâ payments processes. Holidays or currency non-clearing days affect the settlement dates of trades and the ability to send payments. With thousands of global holidays changing yearly, it is essential to plan ahead and ensure public holidays are managed properly and that banks are aware of how the changes will impact domestic and cross border payments processes.â
Ronald Marr, Head of Copp Clark Professional, adds: âThe content from World Holiday Data ServiceÂ® provides CB.Net with a source of holiday information that is continuously updated, ensuring their clients are always aware of newly announced holidays. By partnering with CB.Net, financial institutions are one step closer to the end-to-end Straight-Through Processing of their increasingly complex and international payments operations.â
CB.Net offers the most comprehensive, authoritative sources of payments data for BankSearchPlus and its other reference data solutions BroadcastAlert and BroadcastSearch.