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DTCC debuts CTM tri-party matching workflow
Société Générale is first prime broker to go live with new post-trade process automation solution
The Asset 5 Apr 2024

The Depository Trust & Clearing Corporation’s (DTCC) CTM platform has launched its tri-party matching workflow solution with Société Générale becoming the first prime broker to go live.

The CTM platform for the central matching of cross-border and domestic transactions automates the trade confirmation process across multiple asset classes, such as equities, fixed income and repurchase agreements.

Its new capability streamlines trade communications between hedge funds, prime brokers and executing brokers. Initially launched to support EMEA securities markets, the firm plans to expand access to the new functionality to other markets in the future.

As the global financial services industry prepares globally for increased accelerated settlement initiatives, firms are looking closely at their post-trade processes.

Currently, prime brokers receive details from hedge funds in a multitude of formats and at varying times throughout execution day, creating delays to post-trade processing.

With its new tri-party matching capabilities, the CTM platform standardizes and automates hedge fund trade file delivery, ensuring trade details are communicated real-time, further enabling a no-touch trade processing flow.

The new workflow leverages CTM’s automated central matching functionality and provides prime brokers with a “golden copy” of transaction details when a trade match between a hedge fund and an executing broker takes place, bringing real-time standardization and automation to the trade allocation process.

“Right from the start we were excited to be part of the initiative. CTM’s tri-party matching workflow provides a much-needed solution in the prime brokerage space that improves post-trade processing workflows,” says Société Générale’s Andrew Daponte. “The service integrates CTM into the prime broker environment, which increases efficiency, capacity, and the client experience on the platform.”

Currently, more than 6,000 clients in more than 80 countries are using CTM to streamline workflows.

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