SIX Securities Services Introduces Advanced Settlement System

SIX Securities Services, a Zurich-based provider of finance oriented technological solutions, has added Advanced Settlement to its services. Vontobel, a Swiss private bank based in Zurich, was involved in the development process, and is the system’s first client, beginning use of the pilot version on May 16 2017.

The London Summit 2017 is coming, get involved!

Advanced Settlement is an automated system with a high straight-through processing (STP) and real-time basis, which allows financial entities to process settlement orders directly from the Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term using a single interface. The system is said to both enhance efficiency and lower possible risks. The next step will constitute integrating Advanced Settlement with Standard Settlement Instructions (SSIs) for Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and invoices, which will further be automated and managed through a central database.

Valerio Roncone, the Head Markets & Clients at SIX Securities Services, notes: “The changes underway in the financial sector are giving rise to fundamental challenges for our clients. With new value-added solutions such as Advanced Settlement, SIX Securities Services’ clients can focus more on their core businesses and build on their competitive advantages. We are proud to have such a reliable and knowledgeable partner like Vontobel with us as we launch this new era in securities settlement.”

“We are taking an active role in shaping change in the Swiss financial center. With Advanced Settlement, we can reduce operational risks and complexity in securities settlement for the whole market,” adds Head of Transaction Banking at Vontobel, Peter Camenzind.

In February this year, Finance Magnates reported on SIX Swiss Exchange, Switzerland’s stock exchange, adding EuroCCP as a new clearing provider. Both SIX Swiss Exchange and SIX Securities Services belong to SIX Group, acting as two of its business’ branches serving different needs of the financial industry.