Deutsche Borse says SWIFT, the Brussels-based messaging utility, has praised its Clearstream settlement arm for its high rates of STP.
SWIFT has recently completed a review of the STP capabilities of Clearstream’s operations as part its programme of helping users of its services to make more efficient use of them. The review and analysis, completed last month, investigated custody, settlements, reconciliations, network Management, customer service, ISO 15022 implementation, message quality and MT 599 usage at Clearstream. SWIFT singled out the STP rates of up to 98.5 in the settlement area as a signal achievement.
“Our STP review of Clearstream showed very clearly that they have a strong strategic STP vision and are making great progress in implementing it,” says Charles Welham, Director STP and Initiatives, SWIFT. “The results show how management is focussing on delivering the efficiencies to the benefit of our users but also, the results demonstrate that a comprehensive implementation of ISO 15022 can really improve operational efficiency.”
Matthias Ganz, Chief Operating Officer, Deutsche Brse Group, added: “This was an important review for us and the independent assessment undertaken by SWIFT has showed the high standards we have already achieved. It is part of our overall strategy of maximising efficiencies along the entire value chain for the benefit of our customers and is a key part of our future growth and development.”