Zurich
19 June 2017
Reporter: Drew Nicol

SIX launches new SSI tool


SIX Securities Services has launched an advanced settlement service to enable financial institutions to process their settlement instructions directly from the trading system.

Advanced Settlement introduces a centralised, integrated and fully automated settlement solution allowing its clients to significantly boost the efficiency and minimise the risk of their entire settlement processes as well as consistently maintain high straight-through processing rates.

The first client, boutique investment bank Vontobel, has been using the newly developed, fully integrated service since May.

A key aspect of this new offering is that, in future, standard settlement instructions (SSIs) will be comprehensively and automatically generated by SIX Securities Services and managed via a central database.

Valerio Roncone, head markets and clients at SIX Securities Services, said: “The changes underway in the financial sector are giving rise to fundamental challenges for our clients. With new value-added solutions such as Advanced Settlement, SIX Securities Services’s clients can focus more on their core businesses and build on their competitive advantages.”

“We are proud to have such a reliable and knowledgeable partner like Vontobel with us as we launch this new era in securities settlement.”

Peter Camenzind, head of transaction banking at Vontobel, added: “We are taking an active role in shaping change in the Swiss financial center. With Advanced Settlement, we can reduce operational risks and complexity in securities settlement for the whole market.”

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