The Iyo Bank has become the first Japanese regional bank to adopt DTCC’s Institutional Trade Processing (ITP) services.
ITP provides post-trade processing for equities and fixed income transactions.
As part of the mandate, Iyo Bank will adopt DTCC ITP’s CTM, ALERT, and Settlement Instruction Manager.
CTM, DTCC’s platform for the central matching of cross-border and domestic transactions, automates the trade confirmation process for equities and fixed income, as well as repurchase agreements.
DTCC’s ALERT is a global database of standing settlement instructions (SSIs), currently holding more than 13 million standing settlement and account instructions.
Firms who use CTM and ALERT are able to manage their entire post-trade matching process on a single solution, across asset classes and jurisdictions, while benefiting from an average 95 per cent same day matching rate, says DTCC.
When CTM and ALERT are combined with the Settlement Instruction Manager — which sends settlement instructions to custodians and interested third parties — ITP users can manage and monitor the lifecycle of a trade through to settlement completion, DTCC adds.
Naoaki Fujita, managing executive officer and general manager of funds operation and securities division, says: “With CTM, ALERT and Settlement Instruction Manager, we look forward to further improving our operational risk mitigation capabilities for post-trade processing, while reducing labour resources through the digitalisation of manual, inefficient processes. As a result, we hope to enable our team to focus on more strategic areas that drive our business forward.”
Matthew Stauffer, head of ITP and president and CEO of DTCC ITP, comments: “We are pleased to partner with Iyo Bank in bringing greater post-trade processing efficiency and risk reduction to their firm.”
He adds: “DTCC is uniquely positioned to facilitate the straight-through-processing of institutional trades by seamlessly connecting our global client community to an open and integrated ecosystem that services the full post-trade lifecycle.”
