Bangkok Capital Asset Management (BCAP) has selected the Depository Trust & Clearing Corporation (DTCC) to support its post-trade processes.
The deal will see BCAP integrate the central trade manager (CTM) solution, a global platform for the central matching of cross-border and domestic transactions which significantly improves post-trade processes. This will make BCAP the first domestic investment manager in Thailand to utilise DTCC’s solution.
Through the CTM platform, BCAP will be able to automate various processes, increase efficiency and lower risks of settlement failures. It will also benefit from scalability and the ability to handle increased volumes and added funds without needing more internal resources.
One of the key appeals of the CTM solution is its ability to offer seamless connectivity from trade execution to settlement. It does this by connecting directly with multiple order management systems through FIX and other protocols.
BCAP chief investment officer Thanavut Pornrojnangkool said, at. “We are pleased to partner with DTCC in standardizing our post-trade processes in alignment with global market standards. With the CTM platform, we can accept more trade volumes from our clients, including domestic and cross-border transactions, while improving our processing capabilities.”
DTCC is a post-trade market infrastructure for the global financial services industry. It provides an automated, centralised and standardised way of processing of financial transactions, mitigating risk, increasing transparency and boosting efficiency.
DTCC managing director Matthew Stauffer said, “Having BCAP on the CTM platform is a win for the Thailand market. With the market moving to a shorter settlement cycle in early 2018, the importance of automation and standardization cannot be stressed at a better time than now. CTM delivers straight-through-processing, resulting in greater operational efficiency and reduced risk for our clients.”
Earlier in the week, Swedish bank Skandinaviska Enskilda Banken (SEB) formed a deal with DTCC to leverage its global regulatory reporting tools to meet its SFTR regulatory requirements.
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