SSISearch – the provider of authenticated settlements information for the foreign exchange payments market – has acquired data from DEPFA Bank, OKO Bank and Bayerische Landesbank for its new money markets reference data solution.
Launched at this year’s Sibos event in Atlanta, the inclusion of money market payments information on the SSISearch Global Directory will enable banks to have instant access to authenticated counterparty instructions specifically for settlement of this type of trade.
“Our latest major development is based on our core principles of helping our members reduce their exposure to the operational risk in settlement, improve their STP rates and find efficiencies in the back office”, says Ben Cleaveley, product development and marketing manager, SSISearch. “DEPFABANK, OKO Bank and Bayerische Landesbank have already taken the opportunity to enter their data on to the system and an immediate take-up by these customers demonstrates that the money markets solution meets their needs in this area. The extension into money markets is the next step to achieving our ultimate goal of becoming an industry standard for the storage, maintenance and retrieval of guaranteed, accurate static data. The process of expanding the number of asset classes we provide information for will be continued early in the new year when we launch our commercial payments solution.”