Finance Breaking news Deutsche Bank to provide early warning system for settlement fails last financial news
Breaking-Finance.Com - Deutsche Bank is to debut technology from Elastic that will provide clients with an early warning of likely settlement delays for in-flight transactions.
Breaking-Finance.Com - Deutsche Bank is to debut technology from Elastic that will provide clients with an early warning of likely settlement delays for in-flight transactions. Earlier this year, Deutsche Bank launched its current real-time settlement service in Euronext, Germany and the UK, using the Elastic platform. This provides operations staff with a real-time view of the issues that can delay a transaction settlement, a stark contrast to traditional platforms which only provide a retrospective view of what has caused settlement delays.
.Christopher Daniels, director, data products, securities services at Deutsche Bank, says: “Our aim is to deliver a real shift in how markets view exception processing and to bring pre-trade performance to our post-trade operations. We can now detect transactions in real-time that previously would not be flagged as at risk, and divert our attention from the transactions that ostensibly appear to be at risk, but upon historical analysis have always matched in time to settle.” Set for launch in early 2021, the new service will enable the bank's clients to avoid hefty financial penalties under the upcoming implementation of the new Central Securities Depositories Regulation (CSDR) in 2021, says Daniels.
Source = Breaking-Finance.ComFinancial breaking news