LSEG Technology Wins First Deal With Philippines12.13.2019
- Securities Clearing Corporation of the Philippines (SCCP) selects LSEG Technology to power a next generation post trade environment
- LSEG Technology’s first engagement with the Philippine equity capital market
- LSEG Technology delivers innovative technology solutions to over 40 capital markets organisations globally
LSEG Technology today announced that Securities Clearing Corporation of the Philippines (SCCP), a wholly-owned subsidiary of The Philippine Stock Exchange, Inc. (PSE), has selected LSEG Technology’s Millennium Post Trade solution to improve its post trade processes. As part of the agreement, LSEG Technology will implement Millennium Clearing and Millennium Risk products, enhancing SCCP’s clearing, settlement, risk and collateral management capabilities.
LSEG Technology to provide post trade technology for the Securities Clearing Corporation of the Philippines.
— LSEG Technology (@LSEGTechnology) December 13, 2019
LSEG Technology’s Millennium Post Trade solutions will provide PSE’s clearing house, SCCP, with a fully integrated real-time clearing, settlement, risk and collateral management environment. The technology will help SCCP meet global best practices and standards such as CPMI-IOSCO principles for financial market infrastructures (the PFMIs). The post trade infrastructure uses industry standard messaging such as FIXML and ISO and provides features such as real-time marking to market and initial margining through HVaR; collateral management and margin call workflows; execution of real-time and batch settlement; and payments with commercial banks and SBL for Philippine clearing participants in the equities capital market.
Ann Neidenbach, CIO, LSEG Technology:
“LSEG Technology is delighted to be providing PSE’s Securities Clearing Corporation of the Philippines with Millennium Post Trade solutions for its clearing, settlement, risk and collateral management functionality. Built upon the Millennium Advanced Platform, LSEG Technology’s Millennium Post Trade solutions provide significant benefits for our customers by improving operational efficiency, enabling adherence to international standards, and reducing the total cost of ownership.”
Ramon Monzon, President and CEO, Securities Clearing Corporation of the Philippines:
“LSEG Technology’s Millennium Clearing and Millennium Risk deliver an efficient and effective clearing, settlement and risk management solution. Adoption of this technology will enable us to enhance the services we provide and better support our clearing participants, investors and the wider Philippine market.”
LSEG Technology delivers robust, scalable, high-performance technology including broker, exchange, market data, risk and collateral management, surveillance, clearing and settlement products to customers around the world. LSEG Technology’s market-leading trading and post trade products, empowered with key patented technology, helps improve operational efficiencies for over 40 financial market infrastructure and financial services firms, which include London Stock Exchange Group markets (London Stock Exchange, Borsa Italiana, Turquoise), HKEX, Johannesburg Stock Exchange, Singapore Exchange, and other markets worldwide.
Firms subject to the EU clearing obligation will need an active account at an EU CCP.
DLT could be expanded to trading and clearing/settlement of more liquid listed and OTC products.
Customers get margining efficiencies by clearing indices and their single name constituents as packages.
Information on trade status is important as more frequent volume spikes create processing bottlenecks.
Euronext will manage the entire trading value chain and aims to increase its footprint in post-trade.