Societe Generale Securities Services (SGSS) will concentrate management of liquidity and client collateralisation in Target2-Securities (T2S) with the Diamis Cristal solution.
Cristal will support SGSS’s payment bank operations in T2S, managing proprietary cash accounts and auto-collateralisation with central banks as well as clients’ cash accounts and intra-day credit positions.
The solution, from Atos- and Steria-backed Diamis, is designed to accommodate any organisation of proprietary accounts and their funding in T2S. It provides application-to-application connection to the platform to secure management of liquidity transfers as well as monitoring of cash accounts and auto-collateralisation.
It enables the intra-day reimbursement of auto-collateralisation to prevent unexpected funding requirement at the close of business, and supports all aspects of client credit in T2S, including collateral valuation, position and limit monitoring, and client collateralisation reimbursement during the day or at the end of day.
Cristal also features an audit trail that will provide SGSS with the required reporting to comply with Basel III monitoring for intraday liquidity risk.
Anne-France Demarolle, head of liquidity management at SGSS, commented: “Cristal enables SGSS to deliver flexible T2S cash services to our customers along with sound management of our intra-day liquidity in order to maximise pooling and funding benefits from T2S while securing our daily close of business.”
“By entrusting a focused company such as Diamis with cash issues arising with T2S, we are able to dedicate most of our efforts and resources to enhancing our services for securities settlement.”
