Reaction: FMSB's draft Standard for Sharing of SSIs

Welcome

With over 20 years of experience simplifying the trade lifecycle—especially the complexities of Standing Settlement Instructions (SSIs)—I've dedicated my career to helping financial institutions streamline their post-trade operations. Put SSImply, SSIs determine where a financial transaction is delivered and settled once executed.

After holding senior roles at State Street, DTCC, and Markit, I saw a persistent problem: SSI management remained overly manual, fragmented, and risky. That realisation led to the founding of SSImple® in 2023.

Since launch, we've made exciting progress. We were named a 'One to Watch' by Global Custodian, and our collaboration with EquiLend has been shortlisted for 'Best Partnership of the Year' by Securities Finance Times.

In today's increasingly regulated, data-driven environment, SSImple is reimagining how SSIs are stored, shared, and enriched across the financial ecosystem. Our mission is clear: to deliver 100% accurate, seamlessly managed data—empowering clients to meet regulatory demands and adapt to faster settlement cycles like T+1.

With custodians, buy-sides, brokers, and partners already live on our technology, we're delivering measurable gains in operational efficiency—while significantly reducing both settlement risk and regulatory exposure.

Join our growing community.

Bill Meenaghan

Founder and CEO, SSImple

Member, UK's T+1 Accelerated Settlement Taskforce

Push for SSI automation ahead of T+1 transition

The Financial Markets Standards Board (FMSB) has recommended automating SSIs and requires member firms to attest to this by the end of 2026.

The UK T+1 Accelerated Settlement Taskforce (AST), backed by HM Treasury, the Financial Conduct Authority (FCA), and the Bank of England, reinforced that SSI automation is crucial for T+1 success.

Similar recommendations are anticipated from the European T+1 Industry Taskforce (EUT1-ITF).

If your firm hasn't started planning, now is the time. We are here to help.

OUR TECHNOLOGY

SSIComply™

SSIAutomate™

SSIComply™

A dedicated service for custodians and prime brokers that creates a single golden source of all SSIs. Each data point is validated, with rules applied to resolve issues and govern SSI data entries going forward, producing a clean, accurate dataset. SSIs across all asset classes can then be securely and automatically shared with all entiti

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SSIVerify™

SSIAutomate™

SSIComply™

A joint service from SSImple and S&P Global that transforms the handling of manual (non-ALERT) SSIs. Leveraging deep expertise in SSI processing, the service extracts, validates, and enriches data from any document to create a single, digital golden source of SSIs. This can then be securely shared with clients,enabling full straight-through processing (STP) for brokers.

SSIAutomate™

An independent validation service that applies SSImple’s specialist SSI rule engine to identify potential issuesbefore they cause settlement problems. Missing fields, incorrect formats, and known data errors are all flaggedwith clear reasons, allowing users to correct them in advance. By catching these issues early, firms can reducefailed

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Bill Meenaghan, SSImple, standing settlement instructions, T+1 settlement, FMSB, FCA

Discover how SSIComply™ works

Full Initial Loading and Validation: Ensures accurate securities and cash SSIs, reducing the need for manual checks and call-backs.

Automation of Manual Processes: Fully automates SSI workflows, enabling direct electronic communication of SSIs to buy-side clients, eliminating PDFs, emails, and call-backs on cash SSIs, and aligning with new FMSB recommendations.

Advanced User Interface: Provides real-time, precise SSI data through an intuitive interface for buy-side clients, with the ability to permission SSIs to both broker-dealer counterparties or administrators.

Multi-Use Capability: Manages multiple SSIs within a single account to support settlements, securities lending, and cash transactions for initial and variation margin payments, accommodating custodians' complex operations.

Additional features of SSIComply™

Multi-Asset Class Support: Handles a wide range of asset classes—including equities, fixed income, cash, FX, and money market securities—ideal for custodians managing diverse portfolios.

Continuous Updates and Amendments: Delivers automatic updates at the account or SSI level to maintain complete accuracy and compliance with industry standards and 2025 FMSB recommendations.

Industry and Custodian Rule Updates: Provides timely updates for new market regulations and customises for

specific custodian requirements, ensuring seamless electronic communication with buy-side clients.

Low Lift Integration: SaaS-based service integrates with existing systems, purpose-built to address the complex needs of custodians.

Benefits of SSI automation

Reduced Operational Risk

Minimized Manual Errors: Manual entry and handling of SSIs are prone to human error, which can lead to settlement failures or misrouted transactions. Automation reduces the chance of these errors by ensuring data is processed accurately
Lowered Fraud Risk: Automated systems provide secure authentication and validation processes, minimizing opportunities for fraud that may occur through manual intervention

Increased Efficiency and Speed

Faster Processing Times: Automation allows SSIs to be processed much faster, accelerating trade settlements and reducing delays that are common with manual processing
Scalability: Automated SSI processes can handle higher volumes of transactions as business scales, without needing proportional increases in staff

Cost Savings

Reduced Labor Costs: Automation reduces the need for manual processing, callbacks, and checks, saving on labour costs associated with these repetitive tasks
Reduced Settlement Failure Costs: Correct SSI data reduces the likelihood of failed or delayed settlements, helping institutions avoid costly penalties and reputational damage

Improved Data Accuracy and Consistency

Enhanced Data Quality: Automation enables data standardization, reducing inconsistencies and ensuring that information remains current and accurate across systems
Fewer Discrepancies: With automated validations, discrepancies between counterparties’ SSIs are minimized, leading to smoother transaction settlements

Better Compliance and Regulatory Alignment

Enhanced Audit Trails: Automation creates a clear, traceable record of all SSI changes and transactions, which is essential for compliance with industry regulations
Adherence to Standards: Automated SSIs are often built to follow regulatory standards and recommendations (such as those from FMSB or UK T+1), helping institutions remain compliant with industry-wide changes

Enhanced Client and Counterparty Experience

Faster Settlements and Lowered Reconciliation Issues: Automated SSI processes ensure timely and reliable settlement processes, improving the client and counterparty experience by reducing friction
Increased Transparency: Automation enables real-time status updates and transparency for clients and counterparties regarding SSI-related processing

Supports Strategic Growth

Enables Focus on Value-Added Activities: By eliminating manual SSI processing, resources can be reallocated toward more strategic initiatives like client acquisition and service improvements
Adaptability to Industry Changes: Automation future-proofs SSI management, allowing institutions to adjust more easily to new industry standards, regulations, or shifts toward accelerated settlement cycles like T+1

Meet the team

Mark Brooke-Webb

Mark Brooke-Webb is Chief Operating Officer at SSImple®, bringing over 25 years of experience in the Fintech industry delivering services to clients. Mr Brooke-Webb previously served as COO at Xceptor, a fast-growing private equity-backed data automation firm supporting tier one and tier two clients in capital markets and asset management. In that role, he was responsible for teams across SaaS delivery, projects and consultancy, customer success, and IT service operations. Earlier in his career, Mr Brooke-Webb was Global Head of Client Services at Fidessa, where he led global teams delivering trading platforms and support services to clients operating 24x7 across equities and derivatives. He began his career as a consultant with Cap Gemini Ernst & Young, working on technology transformation projects.

Keith Tippell

Keith Tippell is Chief Commercial Officer at SSImple®, with over two decades of leadership experience in capital markets and Fintech. Most recently, Mr Tippell was Chief Product Officer at CLS Group, and has held senior roles at Droit Financial Technologies, SWIFT, and Markit Group (now part of S&P Global). At Markit, he served as Managing Director in Business Development, contributing to the company's rapid expansion ahead of its $4.3 billion IPO. Mr Tippell brings extensive expertise in acquisitions, product development, and industry engagement. He holds a BEng in Computer Systems Engineering from the University of Sussex.

Simon McDowell

Simon McDowell is Head of Sales at SSImple®, bringing more than 30 years of experience in the capital markets sector. Mr McDowell previously served as COO of AITIS, a deep tech company specialising in AI solutions, and has held senior COO and CRO positions at innovative technology firms managing solutions across the transaction lifecycle. He began his career as a technologist at Lloyds Bank before moving into roles at several global investment banks. In the mid-1990s, Mr McDowell joined Fidessa (now ION) and was part of the management team that grew the company to a market value of over $1 billion, eventually leading its Global Connectivity Business. He has held senior commercial roles at NYSE, ULLINK (Broadridge), Fixnetix (Options IT), Genesis Global, and Taskize (Euroclear).

Matthew Cook

Matthew Cook is Chairman at SSImple®, with more than 20 years of industry experience. Mr Cook most recently held global responsibilities at SWIFT, leading strategic and industry-wide initiatives to enhance settlement efficiency for international securities and FX transactions. Earlier in his career, he held senior roles at UBS and Credit Suisse, working across equities, FX, and OTC products. Today, Mr Cook is active as an angel investor in Fintech start-ups within the capital markets, and serves as an advisor and non-executive director to several companies in his growing portfolio.

Keith Tippell, Chief Commercial Officer, took part in this industry event. Learn more.

Grande Lakes Orlando, U.S.

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It's SSImple®

Welcome

Push for SSI automation ahead of T+1 transition

OUR TECHNOLOGY

SSIComply™

SSIAutomate™

SSIComply™

SSIVerify™

SSIAutomate™

SSIComply™

SSIAutomate™

SSIAutomate™

SSIAutomate™

Effortless compliance with SSIComply™

Discover how SSIComply™ works

Additional features of SSIComply™

Benefits of SSI automation

Meet the team

Mark Brooke-Webb

Keith Tippell

Simon McDowell

Matthew Cook

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