Slide background

SOLUTIONS BY ROL

CLEARING MEMBER

SFB has been following very closely the Reform of the Registry, Clearing and settlement System development that came into effect in April 2016 and will conclude in 2017 with Spain joining TARGET 2 Securities.

The Reform means a great impact on the daily processes and procedures of investment firms. 

  • It’ll affect all the post trading processes: Clearing, settlement, registry, custody and supervision.
  • Introduction of a Central Counterparty (CCP).
  • These changes will affect the fixed income and equities.
  • Disappearance of the RR and transition to a registry system based on balances.
  • The concept of assured delivery changes from the assure on trading to assure on settlement.
  • Financial operations (three dates).
  • New functionality: traceable and supervision.
SFB appointed a consultancy team to study an analyze all the documentation and the implications for the entities, the result has been the creation of a solution that will allow firms to adjust their business needs to the new market scenario after the Reform, taking into account all the different roles they would be able play:

  • Ordinary Non-Clearing Member.
  • Segregated Non-Clearing Member.
  • Individual Clearing Member.
  • General Clearing Member.
SFB design solution cover the needs that a trading Member or a Clearing Member have, being perfectly integrated with the rest of SFB’s Solutions or the clients systems if necessary:

  • Account maintenance: open and assignation of attributes.
  • Customization of period and timetables to control the allowed operative.
  • Online quotes and close for risks and guarantees calculations.
  • Registry and assigning of trades from the own order, give-up management and transfer balances between accounts.
  • Traceable. Relations between Orders, Executions, Clearing and settlement instructions .
  • Dialogue with the PTI post trading interface.
  • Maintenance of the detailed register and reconciliation with the general register in the CCP.
  • Settlement operations management (retention and freedom of sells).
  • Incidents dealings.
  • Relation of the operations with the cash and stock Instructions generated by the CCP.
  • Risks and guarantees management. Calculation and reconciliation with the ones generated in the CCP.
  • Definition an alarms management.
  • Accountancy information (guarantees and commissions).
  • Information for the Regulators.