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SSImple and S&P Global Market Intelligence collaborate to deliver SSI processing automation and validation services to financial markets 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…

The UK T+1 Accelerated Settlement Taskforce (AST) has published its implementation plan for the UK’s transition from T+2 to T+1 securities settlement.  The implementation plan includes a UK T+1 Code of Conduct (UK-TCC) for market participants, which confirms five behavioural commitments, including a push for automation in Standing Settlement Instructions (SSIs).  The implementation plan states:   Bill Meenaghan, CEO of…

In September 2023, EquiLend partnered with SSImple, an innovative FinTech, to launch a reimagined Standing Settlement Instructions (SSI) Repository. SSImple specialises in automating SSI solutions to advance compliance with stipulated FMSB, ESMA, and FCA requirements, supporting the industry’s shift to T+1 settlement. Its software-as-a-service (SaaS) platform, which was built using distributed application platform Corda from R3,…

In his latest paper for the Journal of Securities Operations & Custody, Bill Meenaghan, SSImple CEO, traces the evolution of settlement systems, highlights inherent risks, and proposes tech-driven enhancements for improvement.  Abstract There has been significant excitement surrounding the potential of distributed ledger technology (DLT) in revolutionising the world’s financial services markets in recent years.…

Bill Meenaghan, SSImple CEO, welcomes the European Securities and Markets Authority’s (ESMA) proposed date for moving to T+1:  “The clock is ticking for market participants as ESMA’s proposed shift to T+1 settlement on October 11th, 2027, looms large—especially with expectations that the UK will align with the same date. ESMA, the FCA, and the FMSB have…

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…

SSImple, a SaaS DLT platform that aims to fundamentally change the way standing settlement instructions (SSIs) are stored, shared, and enriched across the financial services industry, today announced it has partnered with the global securities finance technology firm EquiLend to power an enhanced SSI repository and management solution. This collaboration aims to address the significant…