Reaction: FMSB’s draft Standard for Sharing of SSIs

Bill Meenaghan, SSImple CEO, commended the Financial Markets Standards Board’s (FMSB) Post-Trade Committee for their draft Standard for Sharing of SSIs: 

“The FMSB’s draft Standard for Sharing of SSIs, which recommends that ‘SSIs should be entered and managed using electronic solutions that allow for standardisation and pre-authentication of settlement instructions, and which facilitate Straight-Through-Processing’, represents a crucial advancement we’ve long advocated for.

“SSImple urges custodians, prime brokers, buy-side and outsourcer firms, broker-dealers, and third parties to take advantage of this opportunity now.

“Adopting this draft FMSB standard will significantly mitigate risks, streamline operations, and reduce costs.

“Let’s come together to resolve the SSI issue once and for all via automation.”

We’re ready to assist. Get in touch info@ssimple.io