Meritsoft has launched its Trade Tracking and Exception Manager (TTEM) solution that aims to offer financial institutions deep insights into their settlement operations and enabling them to improve settlement efficiency rates.
The TTEM solution is designed to provide market participants with greater operational resilience and efficiency, reduce settlement failure rates, and enhance client servicing and reporting.
The solution enables near real-time trade matching and settlement status updates, allowing operations teams to quickly identify trades that look set to fail and intervene to ensure they match prior to market deadlines, says Meritsoft, a Cognizant company.
TTEM utilises the technological infrastructure of Meritsoft’s recently launched next-generation technology platform.
Built with a cloud-ready, Application Programming Interface-first design, the new platform provides adaptability and interoperability of workflows, with the capacity to support high transactional volume in real-time.
Daniel Carpenter, CEO of Meritsoft, says: “Market participants across the globe face a growing list of challenges when it comes to their trade settlement operations, from shorter settlement cycles to heightened operational costs and resource limitations.
“Faced with CSDR penalties, T+1 settlement timeframes and rising levels of interest claims, it is imperative that companies move quickly to streamline their settlement operations and trade failure resolution processes to minimise costs.
“Those that fail to do so will struggle to remain competitive in an increasingly complex and fast-changing trading environment.”
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