BEC Financial Technologies is offering a new post-trade solution for custody and settlement through a collaboration with S&P Global Market Intelligence.
The cloud-based solution will support BEC member banks in meeting upcoming Danish and European harmonisation requirements, to reduce cost and risks, as well as increase the competitiveness of the Danish capital market.
Kuno Leerhøy, head of post-trade management at BEC, says: “By integrating the Securities Processing platform from S&P Global Market Intelligence, we are leveraging proven, international cloud technologies to service the BEC member banks.
“We will provide banks with competitive tools to enhance efficiency, scalability, and compliance in the entire post-trade process across domestic and international securities trading, and our customers will also experience a more efficient securities custody and settlement process with e.g. easier access to data.”
According to the firm, the move will further strengthen BEC’s capabilities in securities custody and settlement, and will provide the foundation for greater operational efficiencies of the solutions.
Leerhøy adds: “BEC is transforming into the leading fintech integrator for Danish banks. Instead of building all our own IT solutions, we prefer to build an ecosystem of market-leading tech and fintech partners that we can integrate into our full-service banking platform.
“Our collaboration with S&P Global Market Intelligence is already enabling economy of scale for us today, and we see great potential in expanding our work together.”
The firm says that the solution enables higher levels of automation, shorter time to market for new services, and improved operational resilience through modern architecture and exception-based processing.
Ankush Zutshi, head of software, enterprise solutions at S&P Global Market Intelligence, comments: “We’re excited to deepen our relationship with BEC to deliver a cutting-edge, cloud-native post-trade solution for Danish banks.
“By combining BEC’s deep knowledge of the Danish financial ecosystem with our global leadership in custody, settlement, and asset servicing, we’re helping member banks reduce risk, enhance operational efficiency, and align with European market harmonisation in a competitive and rapidly-evolving capital markets landscape.”
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