About a-team Marketing Services

A-Team Insight Blogs

CTM Debuts New Tri-Party Matching Workflow for Prime Brokers with Société Générale as First to Go Live

Subscribe to our newsletter

The Depository Trust & Clearing Corporation (DTCC), the leading provider of post-trade market infrastructure for the global financial services industry, has announced Société Générale as the first Prime Broker to adopt the Central Trade Manager’s (CTM) automated tri-party trade matching workflow. This development comes as the financial services sector worldwide braces for T+1 and more stringent accelerated settlement demands. The innovative feature by CTM simplifies the exchange of trade information across Hedge Funds, Prime Brokers, and Executing Brokers. Initially rolled out for the EMEA securities markets, DTCC plans to extend this functionality to additional markets in the future. 

With an industry-wide push towards enhanced accelerated settlement processes, organizations are scrutinizing their post-trade procedures more closely. Traditionally, Prime Brokers have faced challenges with the diverse formats and timing of trade detail deliveries from Hedge Funds, leading to post-trade processing delays. CTM’s latest tri-party matching solution addresses these challenges by standardizing and automating the delivery of Hedge Fund trade files, enabling real-time communication of trade details and supporting a seamless trade processing flow. 

This innovative workflow utilizes CTM’s automated central matching system, offering Prime Brokers a golden copy of trade details upon the successful matching of trades between a Hedge Fund and an Executing Broker.

  • Synchronizes automation of the trade communication to all Prime Brokers 
  • Provides automated real-time trade notifications 
  • Intelligently identifies Prime Broker recipients via golden source Standard Settlement Instructions (SSI) database 
  • Increases the use of PSET matching via CTM to mitigate settlement risk 
  • Enriches transactions in CTM with ALERT SSIs, providing increased settlement instruction transparency 

Andrew Daponte at Société Générale notes “Right from the start we were excited to be part of the initiative. CTM’s tri-party matching workflow provides a much-needed solution in the prime brokerage space that improves post-trade processing workflows. The service integrates CTM into the Prime Broker environment, which increases efficiency, capacity, and the client experience on the platform.”

“It is exciting to see Société Générale’s adoption of CTM tri-party workflow capabilities, a critical enabler of accelerating settlement as it automates the communication of golden trade copy to Prime Brokers as soon as a match between the Hedge Fund and Executing Broker takes place within the CTM platform,” said Val Wotton, Managing Director and General Manager of DTCC Institutional Trade Processing. “We look forward to bringing greater automation to Prime Brokers in EMEA and around the world as part of our plan to best support global financial markets, helping the industry prepare for future accelerated settlement initiatives.” 

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Practical considerations for regulatory change management

Date: 18 September 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Regulatory change management has become a norm across financial markets but a challenge for financial institutions that must monitor, manage and adapt to ensure compliance with both minor and major adjustments to obligations. This year is particularly troublesome, with...

BLOG

Saifr Addresses Need for Continuous Due Diligence in Marcomms Content Compliance

Ensuring financial services’ firms marketing messages accurately reflect what’s really on offer has long been a challenge for compliance professionals. And with other areas of the business attracting substantial and highly public penalties from regulators, the danger was that this function didn’t get the attention it deserved.  But regulators are starting to pay more attention,...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Practicalities of Working with the Global LEI

This special report accompanies a webinar we held on the popular topic of The Practicalities of Working with the Global LEI, discussing the current thinking around best practices for entity identification and data management. You can register here to get immediate access to the Special Report.