Higo Bank selects DTCC’s ITP Services 18 November 2024US Reporter: Jack McRae
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Higo Bank has adopted DTCC’s Institutional Trade Processing (ITP) solutions to accelerate the trade lifecycle.
Higo Bank will now be able to automate their middle and back office, helping them achieve no-touch processing across domestic and cross-border transactions.
The adoption comes amid a number of jurisdictions around the world moving, or considering a move, to T+1 settlement.
Kazuyoshi Uchiyama, senior executive office and general manager of financial markets division at Higo Bank, states: “The global focus on shortening settlement cycles, as well as the need to comply with the operational risk measurements set by the Basel Accords to enhance internal controls and strengthen human capital, has made straight through processing essential across operational workflows, from trade execution to settlement.
“At the same time, increased volumes and manual processes create risk and lengthen settlement processes. For these reasons, we are very pleased to have adopted DTCC’s ITP services to further automate our post-trade process, increasing efficiency and reducing risk.”
Val Wotton, managing director and general manager at DTCC ITP, adds: “ITP’s functionality is unique in its ability to enable counterparties to reach settlement finality faster, while also connecting to thousands of global counterparties.”
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