Japanese firm Higo Bank is advancing the automation of its middle and back office systems via the implementation of the Depository Trust & Clearing Corp.’s Institutional Trade Processing (ITP) solutions, which will help the firm advance to no-touch processing across domestic and cross-border transactions, officials say. Higo Bank, a regional bank in Kumamoto Prefecture, will… Read More >>
T+1 Self-Affirmation Rates Below Expectations
The DTCC is urging investment managers and custodians to collaborate on technology and automation solutions after its latest statistics on the industry’s affirmation progress revealed a disparity in affirmation rates between those using manual processes and those utilizing centralized matching tools. With the implementation of a T+1 settlement cycle in the U.S. less than a… Read More >>
SuMi Trust USA to Use DTCC’s GC Direct
First Japanese Custodian Bank Signs Up for Alert Service Sumitomo Mitsui Trust Bank is the first Japanese global custodian firm to use the Alert Global Custodian Direct (GC Direct) service to provide standing settlement instruction (SSI) data to its clients, report officials of the DTCC, a major post-trade services and systems provider. The agreement enables… Read More >>
