02 Mai 2013

SWIFT - Broadridge launches SWIFT Global Electronic Trade Confirmation Solution + SmartStream supports SWIFT's Global Electronic Trade Confirmation (GETC) solution

Le 02 mai 2013

Broadridge launches SWIFT Global Electronic Trade Confirmation Solution

Publié le 29 avr 2013

London, April 29, 2013 - With brokerage firms under pressure to demonstrate the quality and competitiveness of their services to buy-side clients, Broadridge Financial Solutions (NYSE:BR) has today launched its solution for SWIFT Global Electronic Trade Confirmation (GETC).  The solution enables sell-side institutional brokers to optimize their service provision to institutional fund managers through a fully automated confirmation and affirmation process for trade allocations.  It also enables brokers to maximize STP rates and streamline their own post-trade processing and settlement operations.

The Broadridge solution supports SWIFT GETC messages (MT515, MT509 and MT517) on a global basis, and provides operational control through full transparency of the message generation, flows and statuses.  Upon receipt of the successful affirmation message (MT517), a SWIFT MT54X settlement message is released, allowing clients to efficiently manage and control their post-trade activities.  The solution extends the range of confirmation-related market services already supported which includes Omgeo's Central Trade Manager (CTM) and OASYS Global, and SWIFT's Accord for Securities.

"We have worked closely with SWIFT to ensure support for the mutual client base interested in GETC," said Phil Dobson, Director, Strategy and Product Management, Broadridge.  "We will continue to keep our solutions aligned to market advancements for a range of service providers.  The proposed introduction of shortened settlement cycles in some markets in 2014 will put even greater emphasis on timely and efficient confirmation and allocation processes."

"We're delighted to further advance our relationship with Broadridge, and are pleased with their speed to market as one of the first to offer a GETC solution," said Arun Aggarwal, Managing Director, UK and Ireland, SWIFT.  We are seeing a growing demand for our GETC solution, and we are firmly committed to working in alliance with best-in-class solution providers to help our customers drive greater efficiencies in their post-trade operations."

Broadridge will be exhibiting at the SWIFT Business Forum on April 30th at The Brewery, Chiswell Street, City of London.


SmartStream supports SWIFT's Global Electronic Trade Confirmation (GETC) solution

Publié le 29 avr 2013

London, April 29, 2013 - SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that its TLM Trade Process Management solution, which addresses the post-trade allocation, confirmation, clearing and settlement processes, now fully supports SWIFT's Global Electronic Trade Communication (GETC) solution.

GETC uses well established SWIFT ISO 15022 messages to provide a standardised process for matching fixed income and equities trades for both buy and sell-side firms. The post-trade world still has a large amount of manual processing and GETC enables participants to reuse their existing SWIFT infrastructure to create a standardised and automated approach to confirmation matching. GETC minimises operational risk, increases STP and significantly reduces the costs of post-trade processing.

Dr Darryl Twiggs, Head of Product Management, SmartStream Technologies, comments: "With the ever increasing pressure to reduce costs in the middle and back-office while at the same time lowering the risk of failed or late trades, customers are looking for alternative post-trade solutions. By supporting the GETC solution our customers now have more options for handling post-trade processing. In addition to supporting the automation of allocation only or block allocation confirmations, SmartStream's TLM Trade Process Management solution offers the complete automation of the transaction across the middle and back-office from point of execution to settlement".

Paul Taylor, Director New Business Development - Global Matching, SWIFT, says: "It is a pleasure to be working with SmartStream to make our GETC local confirmation solution even more accessible to the marketplace. As the industry strives to improve post-trade operational efficiency, many buy and sell-side firms are opting for local matching solutions for the automation of trade confirmations. By supporting the use of GETC, and providing an installed local matching engine that accepts GETC messages, SmartStream is making a great contribution towards helping the community drive out cost and risk from this vital post-trade function."

GETC is an ISO standards-based messaging solution for the automation of block trade, confirmation, allocation and affirmation process. TLM Trade Process Management collects, validates and enriches trades before intelligently routing them to the most appropriate matching venue, whether that is centrally or locally matched, with rules determining the appropriate venue before handling the final settlement of the trade.


À télécharger



Haut de page