IBERCLEAR, a BME subsidiary company, has implemented the Fixed Income SUC, a Single Matching System for the registration, clearing and settlement operations platform for private and public fixed income securities, completing a large-scale technological project known as the Unified Communications Window.
The matching is the process of comparison and reconciliation of settlement order details stemming from two counterparts, to ensure there is agreement on details (e.g. ISIN code, securities amount, price, settlement date, etc.).
With the Single Matching System, IBERCLEAR incorporates advanced international standards into its fixed income operations, both in matching processes and in communications. The system is designed in line with ISO 15022 standards, eliminating the need for pre-matching by phone and adding efficiency to the important settlement process.