SmartStream Technologies, the leading transaction management STP solutions provider, announced the availability of SmartStream Intra-Day – a new module that is a fully integrated part of SmartStream Reconciliations -the market leading multi-product matching and investigations solution.
SmartStream Intra-Day enables comprehensive, real-time cash information to be passed between a financial institution and its counterparties.
Historically banks have relied on end-of-day reconciliation, exception handling and reporting, which slows down settlement cycles and increases exposure to operational risk. With SmartStream Intra-Day, banks benefit from intra-day reporting and risk management, thereby enabling real-time prediction of cash balances and giving them the ability to forecast and act immediately to manage outstanding exposure.
The development of this new module is in line with the industry drive to shorter settlement cycles and the advent of developments such as Continuous Linked Settlement (CLS) with its associated netting requirements. All of these issues are putting pressure on the industry to determine cash positions in real-time rather than end-of-day.
Using SWIFT cash movement advice messages (MT900/910) and matching againstsubmitted payment/receive messages (MT200/210) SmartStream Technologies’ clients can predict cash balances in real-time and act fast to manage long and short positions.
Darryl Twiggs, SmartStream Technologies’ Product Manager for Intra-Day, said of the new solution: “As the market leader in transaction lifecycle management solutions we recognised the demand for real-time cash reporting to enable clients to identify high-risk, slow-to-settle transactions as early as possible in the trade lifecycle to reduce their risk exposure. This real-time, value added module was developed in partnership with a leading European Bank where it is now live and is the first of many new SmartStream Technologies initiatives, which focus on real-time access to settlement information.