The spike in trade settlement fails across the US and Europe highlighted the urgency for post-trade automation.
With Torstone Technology’s platform, Credit Suisse will consolidate and automate the post-trade operations of its equity trading business in Canada.
The report stated increased automation of the middle-office and the use of secure cloud-based platforms should be key priorities for firms for next year.
DTCC stated dematerialisation would reduce the risks and costs associated with manual processing and human touchpoints.
Asset managers, custodians and other industry participants cited legacy tech and data quality as the biggest challenge to achieving full corporate actions automation.
The findings highlight the sharp divide between processing fund transfers manually that require ‘wet’ signatures and using an automated system.
The Luxembourg-based CSD will use Finomial’s technology to automate trade documentation completion for funds in alternative assets.
Through the asset manager’s ‘Morgan Money’ trading platform, it has become the first in the market to offer automated settlement with Calastone's technology.
US asset manager Legg Mason plans to be one of the first adopters of the new ETF model, with BNY Mellon as their ETF service provider.
SS&C acquires machine learning paper-to-digital data transformation platform.