Meritsoft and Taskize collaborate on enhanced CSDR solution
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Meritsoft and Taskize collaborate on enhanced CSDR solution 17 June 2020Dublin Reporter: Maddie Saghir
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Meritsoft, a Cognizant company, and Taskize, a Euroclear company, are integrating their automated fails operational workload offering and global operational task management solutions to provide an end-to-end Central Securities Depositories Regulation (CSDR) management solution.
As part of the collaboration, Meritsoft’s FINBOS CSDR Manager and Taskize Connect are set to deliver a comprehensive real-time platform for clients and their customers.
According to Meritsoft, clients will benefit from the ability to manage both the CSDR settlement fail and buy-in processes. They will also benefit from a comprehensive audit trail and fail-resolution workflow that adheres to CSDR’s compliance requirements.
Additionally, significant improvements on identification and prevention of fails, automation of a significant amount of anticipated CSDR workloads, including CSD reporting and cash compensation management were listed as some of the main benefits for clients.
Kerril Burke, Meritsoft CEO, said: “With the February 2021 CSDR deadline front of mind for financial houses, market participants need to be able to mitigate the potential risks and costs of upcoming penalties and buy-ins under CSDR.”
“They must do this through efficient issue resolution while providing business managers and traders with the information required to factor CSDR implications into their decisions. We are pleased to be collaborating and innovating with Taskize to offer market participants this enhanced platform.”
John O’Hara, CEO at Taskize, added: “We are delighted to collaborate with Meritsoft as the company delivers its CSDR manager solution to the market. Meritsoft clients will benefit from using Taskize’s industry-leading inter-company workflow service.”
“This will enable seamless flows of activity both within and between financial services firms and facilitate adherence to CSDR’s requirements. As the world of regulatory compliance continues to expand, we look forward to identifying opportunities to create value for clients with collaborators such as Meritsoft to service the wider financial services industry.”
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Image: Madrugada Verde/shutterstock.com 