Pirum enhances pre-matching service
19 June 2015 London
Image: Shutterstock
Pirum has enhanced its Real-Time Pending pre-matching service to enable users to identify issues minutes after the loan or return is booked, leading to reduced fails and improved settlement times.
The service allows users to pre-match new loans, returns, collateral and repos across all asset classes.
With changes such as the regulation on settlement and central securities depositories imposing increased costs of failed settlements, coupled with the implementation of shortened settlement cycles across Europe as a result of the T2S roll-out, Pirum has claimed that timely pre-matching is critical.
The enhancement of the Real-Time Pending compare service will enable Pirum clients to manage mismatches on their transactions prior to settlement with the ability to prioritise these on a number of key criteria such as trade value, quantity and settlement date.
With Pirum’s existing suite of real-time comparisons the Real-Time Pending comparison enables clients to manage the full trade life cycle from the initial booking of a loan to the return, on a real-time basis.
The service allows users to pre-match new loans, returns, collateral and repos across all asset classes.
With changes such as the regulation on settlement and central securities depositories imposing increased costs of failed settlements, coupled with the implementation of shortened settlement cycles across Europe as a result of the T2S roll-out, Pirum has claimed that timely pre-matching is critical.
The enhancement of the Real-Time Pending compare service will enable Pirum clients to manage mismatches on their transactions prior to settlement with the ability to prioritise these on a number of key criteria such as trade value, quantity and settlement date.
With Pirum’s existing suite of real-time comparisons the Real-Time Pending comparison enables clients to manage the full trade life cycle from the initial booking of a loan to the return, on a real-time basis.
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