The Depository Trust & Clearing Corporation (DTCC) announced that FFG Asset Management (FFG AM) has adopted the firm’s Institutional Trade Processing (ITP) services, leveraging the automated post-trade solutions to achieve no touch processing for equities and fixed income transactions.
FFG AM, a Japanese regional bank, has selected CTM, ALERT and Settlement Instruction Manager to fully automate their post-trade processing for domestic and cross-border transactions. By adopting DTCC’s ITP services, FFG AM can save time and resources spent on manual processes, creating a faster and more efficient post-trade process, thereby achieving a shorter time to settlement. This aligns with the global financial industry’s focus on accelerating settlement cycles after the successful implementation of T+1 settlement in the US.
Takashi Yoshinaga, representative director of FFG Asset Management, said in a statement: “In addition to the global movement around the shortening of settlement cycles, the domestic Tokyo Stock Exchange is planning to extend its trading hours, making it increasingly important to carry out post-trade operations quickly and accurately. We look forward to benefiting from DTCC services’ capabilities to improve efficiency and robustness while leveraging a fully automated post-trade process.”
Firms can achieve faster post-trade agreement and affirmation by automating the allocation, confirmation and affirmation process, thereby achieving accelerated settlement. CTM, DTCC’s platform for the central matching of cross-border and U.S. equity and fixed income transactions, automates the trade confirmation process.
When used in conjunction with ALERT, all transactions within CTM are enriched with golden source account and standing settlement instructions (SSI), ensuring all account information is accurate. When combined with Settlement Instruction Manager, which automatically generates and sends settlement instructions to custodians and interested third parties, users can more effectively manage and monitor the lifecycle of a trade through to settlement finality.
Val Wotton, managing director and general manager for DTCC Institutional Trade Processing, said in a statement: “DTCC’s ITP is uniquely positioned to enable counterparties to reach settlement finality faster while seamlessly connecting the ITP community to thousands of counterparties around the world.”