Clearstreams new generation of processing environment has realised its interoperability strategy with less complexity, faster time to market, no migration costs and lower project costs by leveraging its commitment to SWIFT connectivity and ISO standards, according to a SWIFT case study.
Clearstreams new generation processing environment meets market demand for improved efficiency in cross-border settlement and custody processing. For Clearstream an optimised internal environment coupled with ISO 15022 real-time messaging delivers, via an interoperability strategy, the same high service levels that can be achieved through an integration approach – but to all markets, rather than to a limited set.
The achievement of Clearstreams interoperability by taking advantage of SWIFT standards delivers benefits that go beyond settlement. Additionally Clearstream customers have a more efficient use of collateral and improved asset servicing.
“Interoperability is the key word for todays financial markets, which can only be achieved via industry standards like ISO 15022,” says Philip Brown, head of client relations Europe and Americas and member of the executive board of Clearstream International. “With the problems financial institutions faced recently, interoperability is essential because effective interoperability makes it possible to move collateral on a same-day basis between multiple locations and meet funding requirements.”
“We are delighted that Clearstream recognised the value of SWIFT and ISO standards and has leveraged its earlier investment in the CreationConnect connectivity suite to support the introduction of its new environment and its interoperability strategy,” says Alain Raes, head of SWIFT EMEA.
D.C.