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Meeting the challenges of T+1
From May 2024, US and Canada will require securities settlement on T+1.
See how Duco can help you get ready.
The move to T+1 will impact 40% of the global securities market (SIFMA Quarterly Report, April 2023) and will mean that most firms have to change everything from batch processing settlements to managing securities depot and cash transactions.
While the move to T+1 will likely reduce risk in the trade settlement process, it adds complexity and (potentially) cost. You might think you can automate your way out of it. But automating processes with bad data still leaves you with exceptions that you need to manage on T+0 to meet the new timelines.
Agile data, not just automated processes
Maintaining existing processes will be impossible, especially with clients in other time zones. Exceptions will need to be managed on T+0 so overnight batch runs, investigations and even intercompany processes will need to change.
Without a fundamental shift to a data-centric approach, firms will struggle to meet deadlines and data requirements. This will likely mean moving to intra-day, proactive exception management.
Fundamental shift in processes
Exceptions will now need to be found and managed on T+0. Overnight batch processes, manual break investigations and workarounds will need to go.
Existing processes across the business – from collateral management to intercompany transactions – will need to be re-built to accommodate new timelines.
In Duco you can build and adapt processes quickly as business needs change, without coding or heavy IT involvement. You can trigger intra-day snapshot runs at specific times or as submissions come in, proactively managing exceptions and getting a jump on investigations.
Preventing breaks before they happen
Exceptions take too long to manage. You can try to throw more people at the problem, but it’s costly and likely not to make enough of a difference. Getting to better data will be the key, but how can you prevent breaks before they happen?
Start with better data. Duco can help you prevent exceptions before they happen. Aggregate data from many sources, validate things like SSIs before trades happen, and push into upstream systems or downstream to reconciliations. You get the right data in one place to get out in front of breaks, without significant added cost.
Managing exceptions faster
Even with data-centric processes and pre-trade validation, breaks will happen and they need to be managed as quickly as possible. But investigations by email aren’t going to cut it.
Duco’s best-in-class match rates mean you’re filtering out the noise and not wasting time on false breaks. Automated exception workflows help you get to investigations faster with rule-based automated labelling and assignments to cut investigation times significantly.
Getting to the right data. Fast.
The Duco platform is the only choice when you need to respond fast, stay in control of your data, create transparency and future-proof your operations.
Get better data from the start and meet the compressing timelines of T+1 requirements with ease. From reference data validation to exception workflow automation the Duco platform will keep you one step ahead of T+1.
Ensure the integrity an accuracy of your data and strip out manual processes to minimise risk while maximising speed.
From our no-code Natural Rule Language to the Duco Alpha machine learning engine, our solution is designed to be user-friendly in every way, from setup to documentation.
Our platform is data agnostic and easily connects to both upstream and downstream systems. Whether it’s the regulation that evolves or your tech stack, Duco’s data quality solution comes with flexibility baked in to keep you future-proofed.
“Duco represents a new, transformative approach to data management and control that aligns with our forward-thinking culture. With Duco, we can set up and automate a variety of processes with ease, without major development projects. The technology also introduces an additional degree of control, transparency and auditability across our business.”
Yves Dupuy, Chief Information Officer, Societe Generale Bank & Trust
Unlock the power of your data with Duco
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