It's SSImple™
Our SSI Comply™ service ensures you are fully compliant with new FMSB and FCA recommendations for T+1 settlement.
Our SSI Comply™ service ensures you are fully compliant with new FMSB and FCA recommendations for T+1 settlement.
In July 2024, the Financial Markets Standards Board (FMSB) released a significant recommendation encouraging the automation of Standing Settlement Instructions (SSIs) wherever feasible. Supported by major global and prominent regional banks, FMSB member firms will be required to annually attest to their adherence to these guidelines by the end of 2025, underscoring the importance of compliance.
The move towards SSI automation is also highlighted in the UK Accelerated Settlement Taskforce's interim report, emphasising it as a crucial measure to expedite the UK securities settlement cycle from the current trade date plus two days model, or 'T+2', to T+1. This FMSB recommendation will soon be integrated into the Financial Conduct Authority (FCA) 'Post-Trade Code of Conduct.'
Our SSI Comply™ service is designed to support firms in navigating and meeting evolving financial regulatory requirements.
SSI Comply™ streamlines the efficient storage, validation, and automated electronic sharing of SSIs across all entities and asset classes, ensuring full alignment with industry standards.
I'm Bill Meenaghan, Founder and CEO of SSImple™, the forward-thinking fintech recently recognised by Global Custodian magazine as 'One to Watch'. I'm also a member of the UK Accelerated Settlement Taskforce.
With over 20 years devoted to simplifying the trade lifecycle, my career has taken me through senior product management roles at IHS Markit (now part of S&P Global), The Depository Trust & Clearing Corporation (DTCC), and State Street Global Advisors. Therefore, this recognition holds special significance for me.
A heartfelt thank you to everyone who has supported us, especially our partners—Delta Capita, EquiLend, and Exactpro—and, of course, the amazing SSImple™ team. It's a privilege to work with such talent, and we're always eager to welcome passionate people ready to make a real impact.
To our colleagues and clients—both current and future—I'm excited for what we'll achieve together in 2024 and beyond.
Matthew Cook is Chairman at SSImple. With more than two decades of industry experience, Mr Cook’s most recent role was at SWIFT, where he held global responsibilities. His tenure involved leading key strategic and industry-wide initiatives focused on enhancing settlement efficiency for international securities and FX transactions. He began his career in investment banking with UBS and Credit Suisse, occupying senior roles across diverse operational domains such as equities, FX, and OTC products. Presently, Mr Cook is actively involved in angel investing in innovative fintech start-ups operating within the capital markets arena. Furthermore, he lends his expertise as an advisor and NED to numerous companies within his growing investment portfolio.
Andrew Betteley is Chief Technology Officer at SSImple. Mr Betteley has steered technology strategies for several high-growth, investor-backed enterprises. In addition to his responsibilities at SSImple, he serves as an Operating Partner at Frog Capital, contributing to new investment proposals and offering support to leadership teams and CTOs within their portfolio. Actively involved as a Board Member for Genasys Technologies, a London Market insurtech, and Rated People, an online marketplace connecting homeowners with tradespeople, Mr Betteley brings valuable expertise. Before joining SSimple, he served as CTO at Opus IVS, with extensive engagements across Europe and the US. And prior to that, he was CTO at Watchstone Group plc, providing technology solutions to the insurance, automotive, and healthcare sectors.
Simon McDowell is Head of Sales at SSImple, bringing over 30 years of experience in the capital markets sector. Previously, Mr McDowell served as COO of AITIS, a deep tech company specialising in AI solutions. He has also held COO and CRO positions at cutting-edge technology firms, managing solutions across the transaction lifecycle. Mr McDowell's career began as a technologist at Lloyds Bank, followed by roles at several global investment banks. In the mid-90s, he 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 the Global Connectivity Business. He has also held senior commercial roles at NYSE, ULLINK (Broadridge), Fixnetix (Options IT), Genesis Global, and Taskize (Euroclear).
David Little is the Lead Investor at SSImple. With a career spanning more than 25 years in capital markets, Mr Little has held prominent positions at both executive and board levels within the financial and software services sectors. His wealth of experience has led to a record of accomplishment in early-stage investments, including two that have achieved unicorn status. Presently, Mr Little holds the position of Chairman at Aora Law and serves as NED for several high-growth start-ups such as OTCX, Century Tech, and ETA Green Power.
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.
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.
One Great George Street, London
Bill Meenaghan, SSImple Founder & CEO, will discuss where we are with accelerated settlement. Learn more.
One Great George Street, London
Convene at 22 Bishopsgate, London
Bill Meenaghan, SSImple Founder & CEO, took part in this industry event. Learn more.
Convene at 22 Bishopsgate, London
Angel Court, London
Bill Meenaghan, SSImple Founder & CEO, attended this industry event. Learn more.
Angel Court, London
Hilton Warsaw City
Bill Meenaghan, SSImple Founder & CEO, and Matthew Cook, Chairman, took part in this annual meeting. Learn more.
Hilton Warsaw City
The Savoy, London
Global Custodian magazine has shortlisted SSImple as a 'Fintech One to Watch'. Read more.
The Savoy, London
If you have a media question for SSImple or Bill Meenaghan, please don't hesitate to get in touch with our PR consultant. For anything else however, do get in touch via the form below.
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