In launching the service, the platform will allow for the simultaneous exchange of cash and securities between broker-dealers to settle US listed-equities trades.
Tag: Credit Suisse
The launch of the platform marks the latest success for AccessFintech, which originated from JP Morgan’s FinTech incubator and went live just six months ago.
The project has been lauded by industry experts, and HQLAx founder Guido Stroemer was included in Global Custodian’s 30 to Shape the Future list.
The adoption of AccessFintech solution will help the Swiss bank avoid errors in the settlement process and comply with the upcoming settlement discipline regime.
Credit Suisse and Societe Generale have been confirmed as the first two banks to use the Paxos Settlement Service.
Credit Suisse will bring its post-trade processes back in-house through its partnership with Torstone Technology.
The lawsuit accused the six banks and their prime brokerage divisions had colluding to ‘boycott’ an electronic securities lending trading platform.
The investment bank has seen increased profits from the business following a programme of optimising and rationalising its prime brokerage balance sheet.
State Street, BNY Mellon and MUFG among those backing the tokenisation project aimed at transforming clearing and settlement.
Credit Suisse stated it has seen increased profits following its programme of optimising and rationalising its prime brokerage balance sheet.