A significant proportion of standing settlement instructions (SSIs) are still processed manually, presenting major challenges for the industry in terms of operational overhead and settlement failures.
To address this, SSImple and S&P Global Market Intelligence have announced a joint collaboration that brings together S&P Global Market Intelligence’s advanced large language data extraction models, comprehensive legal entity data, dynamic workflows, and established outreach technology.;
This collaboration aims to automate SSI extraction, validation, and authentication, and will also extend to providing SSI services for custodians and independent validation for broker-dealers, helping to solve one of the most persistent and complex issues in the post-trade space.
“Our joint clients will benefit from reduced failure and manual intervention and be better prepared for the transition to T+1 settlement,” said Bill Meenaghan, CEO and founder of SSImple, in a statement.