The Iyo Bank, Ltd. has adopted The Depository Trust & Clearing Corporation’s Institutional Trade Processing (ITP) services, making it the first provincial bank in Japan to do so. The Iyo Bank, Ltd. can achieve no-touch post-trade processing for equity and fixed income transactions by utilizing these services.
The first local bank in Japan to use ITP services is Iyo Bank, which chose CTM, ALERT, and Settlement Instruction Manager to improve and streamline their post-trade procedure. Iyo Bank is now able to spend less time and effort on manual operations while enabling transactions to reach a shorter time to settlement thanks to the use of many automated post-trade products.
Naoaki Fujita, Managing Executive Officer and General Manager of Funds Operation & Securities Division, stated, “We are pleased to partner with DTCC in automating our post-trade processes. With CTM, ALERT and Settlement Instruction Manager, we look forward to further improving our operational risk mitigation capabilities for post-trade processing, while reducing labor resources through the digitalization of manual, inefficient processes. As a result, we hope to enable our team to focus on more strategic areas that drive our business forward.”
The trade confirmation procedure for stocks, bonds, and repurchase agreements is automated by CTM, DTCC’s platform for the central matching of domestic and international transactions. Users of CTM gain access to SWIFT messaging, configurable matching rules, DTCC’s ALERT, the biggest global database of SSIs, which presently holds over 13 million standing settlement and account instructions, and configurable matching criteria.
Companies that utilize CTM and ALERT may manage their complete post-trade matching process across asset classes and jurisdictions using a single best practice solution and gain access to an average 95% same-day matching rate. Users can more efficiently manage and monitor the lifespan of trade through settlement finality when used in conjunction with Settlement Instruction Manager, which automatically produces and distributes settlement instructions to custodians and interested parties.
Matthew Stauffer, Managing Director, Head of Institutional Trade Processing and President and CEO, DTCC ITP LLC, commented, “We are pleased to partner with Iyo Bank in bringing greater post-trade processing efficiency and risk reduction to their firm. DTCC is uniquely positioned to facilitate the straight-through processing of institutional trades by seamlessly connecting our global client community to an open and integrated ecosystem that services the full post-trade lifecycle.”