Pirum has announced the enhancement of its Claims Manager service to support claims related to Central Securities Depository Regulation (CSDR) penalties.
Under CSDR, counterparties have a limited timeframe to issue and agree claims that require a pass on to the counterparty who is at fault for causing the fail.
Each claim must be supported with specific transaction details, payment instructions and reasons for the claim, according to the firm.
Pirum’s Claims Manager service will support the centralised issuing, tracking and payment of CSDR claims on a real-time basis for all counterparties.
The service supports the full automation and reconciliation of income claims and market claims, along with cash payments related to mandatory and voluntary corporate actions.
