LSEG chosen by Philippine Stock Exchange for securities lending services
12 December 2019 London
Image: Shutterstock
London Stock Exchange Group (LSEG) Technology has been selected by Securities Clearing Corporation of the Philippines (SCCP), a wholly-owned subsidiary of The Philippine Stock Exchange (PSE), to provide post trade services, including securities lending and collateral management.
Under the new mandate, LSEG Technology will implement its Millennium Clearing and Millennium Risk products, with the aim of improving SCCP’s clearing, settlement, risk and collateral management capabilities.
In a statement on the deal, LSEG said that its service will include securities lending for Philippine clearing participants in the equities capital market.
The post trade infrastructure uses industry-standard messaging, such as FIXML and ISO, and provides features such as real-time marking-to-market and initial margining through the Historical Value-at-Risk model.
It also offers collateral management and margin call workflows, as well as execution of real-time and batch settlements.
According to LSEG, the technology will help SCCP meet global best practices and standards such as Committee on Payments and Market Infrastructures (CPMI), International Organization of Securities Commissions (IOSCO) and Principles for Financial Market Infrastructures (PFMIs).
The deal marks LSEG Technology’s first engagement with the Philippine equity capital market.
LSEG Technology chief information officer, Ann Neidenbach, said: “Built upon the Millennium Advanced Platform, LSEG Technology’s Millennium Post Trade solutions provide significant benefits for our customers by improving operational efficiency, enabling adherence to international standards, and reducing the total cost of ownership.”
Under the new mandate, LSEG Technology will implement its Millennium Clearing and Millennium Risk products, with the aim of improving SCCP’s clearing, settlement, risk and collateral management capabilities.
In a statement on the deal, LSEG said that its service will include securities lending for Philippine clearing participants in the equities capital market.
The post trade infrastructure uses industry-standard messaging, such as FIXML and ISO, and provides features such as real-time marking-to-market and initial margining through the Historical Value-at-Risk model.
It also offers collateral management and margin call workflows, as well as execution of real-time and batch settlements.
According to LSEG, the technology will help SCCP meet global best practices and standards such as Committee on Payments and Market Infrastructures (CPMI), International Organization of Securities Commissions (IOSCO) and Principles for Financial Market Infrastructures (PFMIs).
The deal marks LSEG Technology’s first engagement with the Philippine equity capital market.
LSEG Technology chief information officer, Ann Neidenbach, said: “Built upon the Millennium Advanced Platform, LSEG Technology’s Millennium Post Trade solutions provide significant benefits for our customers by improving operational efficiency, enabling adherence to international standards, and reducing the total cost of ownership.”
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