FFG Asset Management is deploying the Institutional Trade Processing suite from the DTCC.
A Japanese regional bank, FFG Asset Management, is moving to “no touch” post-trade processing for equities and fixed income transactions via the services of the Institutional Trade Processing (ITP) suite from the Depository Trust & Clearing Corp. (DTCC).
FFG AM, based in Fukuoka, reports that it has selected DTCC’s CTM for the centralized matching of cross-border equity and fixed income transactions, the Alert online global database for standing settlement instructions (SSIs), and the Settlement Instruction Manager application for the automatic creation and transmission of settlement messages in industry standard formats, officials say.
These systems will be used to automate post-trade processing for domestic and cross-border transactions, officials add.
FFG AM hopes to “save time and resources spent on manual processes, creating a faster and more efficient post-trade process, thereby achieving a shorter time to settlement” via DTCC’s ITP suite, according to the announcement.
The FFG AM efforts are in line with “the global financial industry’s focus on accelerating settlement cycles after the successful implementation of T+1 settlement in the U.S.,” officials say.
“In addition to the global movement around the shortening of settlement cycles, the domestic Tokyo Stock Exchange is planning to extend its trading hours, making it increasingly important to carry out post-trade operations quickly and accurately. We look forward to benefiting from DTCC services’ capabilities to improve efficiency and robustness while leveraging a fully automated post-trade process,” says Takashi Yoshinaga, representative director of FFG AM, in a prepared statement.
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