Overview
Syn
SSI automates the gathering and execution of SSI in complex cross border scenarios
Complexity is rising
As securities dealers become more global in their transactions and create ever more complex cross-border scenarios, including multi-listed securities, the opportunity for breaks and fails during settlement also rises.
Automated repair with STEP
SynSSI provides a rules-based engine, equipped to repair the breaks in straight through processing automatically and apply the apppropriate reference data to meet different settlement requirements.
Optimised settlement location
SynSSI is also a central repository for managing data sources and a calculation engine for establishing the optimum settlement location in multiple trading circumstances. The solution takes information from multiple sources including Omgeo Alerts, SWIFT and other sources, as well as facilitating the loading of manual data from PDFs and other documents.
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SynMiddleOffice is a flexible solution design to adapt to the different requirements and definitions that clients may have for their middle office processing, which will vary according to location, instruments and other factors.
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SynBackOffice is the rules-based settlement processing engine, managing trade confirmations and settlements and updating general ledger.
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Features & Benefits
Benefits
- Best possible matched SSIs
- Automatic application of lifecycles against the data
- STEP – straight through execption processing for automated repair of trades
- Caters for ‘real life’ scenarios
SynSSI provides features to automate and manage the process of collection of reference data whether at an account or individual transaction level.
SynSSI’s rules-based engine and modelling tools provide fast on-boarding of new scenarios and resolution of problems that crop up in real-life, post trade. Life cycles are applied to the data to achieve optimum execution of the trades. Once authorised, copies of the data can be distributed to downstream middle and back office engines and other systems. Crucially SynSSI includes on-line service calculator screens to determine the best possible matched SSIs for the trading circumstances.
SynSSI’s proven STEP capability offers a significant advantage in finding the right solution to repair failed or broken trades, not found in most back office systems today. Morevoer, Syn’s long record of success in back office processing and knowledge of how SSIs are used in real life, enables the system’s parameters to be extended beyond standard models.
Key features
- Interfaces to Omgeo Alerts, SWIFT or other sources such as XML for automated data gathering
- SSI calculations using best-match algorithms
- Configured parameters including product types, market, currencies, transaction types, legal entity, and counterparty etc.
- Rule-based exceptions
- Workflows for manual loads from other reference data sources – PDFs, spreadsheets, Word documents, etc
- Rapid access to client and counterparty reference data (applicable to broker-dealers, securities dealers, correspondent clearers, custodians)
