Société Générale has become the first prime broker to go live on CTM’s new automated tri-party trade matching workflow, which aims to streamline trade communications between hedge funds, prime brokers and executing brokers.
Initially launched to support EMEA securities markets, CTM plans to expand access to the new functionally to other markets in the future as the industry prepares for the increased focus on global accelerated settlement requirements.
Currently, prime brokers receive details from hedge funds in a multitude of formats and at varying times throughout execution day and sometimes T+1, creating delays to post trade processing. CTM’s new tri-party matching capabilities standardises and automates hedge fund trade file delivery, ensuring trade details are communicated real time, further enabling a no-touch trade processing flow.
The new workflow leverages CTM’s automated central matching functionality and provides prime brokers with a golden copy of transaction details when a trade match between a hedge fund and an executing broker takes place, bringing real time standardisation and automation to the trade allocation process.
CTM is DTCC Institutional Trade Processing’s central matching service for cross-border and domestic transactions across multiple asset classes. Today, there are over 6,000 clients in more than 80 countries using CTM to streamline workflows.
