SmartStream’s trade process management solution now supports Swift’s global electronic trade solution (GETC).
Darryl Twiggs, head of product management at SmartStream, tells GTR that by supporting the solution, the financial transaction lifecycle management company will be able to standardise and automate its processing. “GETC offers this for the post-trade process,” he says. “By adding the automation of settlement, it allows our clients to focus on the exceptions.”
The system will enable SmartStream to introduce widely accepted industry best practice workflows, as well as allowing it to increase its implementation time, thereby reducing costs.
“GETC is an alternative to the traditional matching venue utilising the intelligent routing provided by the system to match at the most appropriate venue,” Twiggs continues.
Swift’s director of new business development for global matching Paul Taylor adds: “As the industry strives to improve post-trade operational efficiency, many buy and sell-side firms are opting for local matching solutions for the automation of trade confirmations. By supporting the use of GETC, and providing an installed local matching engine that accepts GETC messages, SmartStream is making a great contribution towards helping the community drive out cost and risk from this vital post-trade function.”