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corfinancial Launches Penalty Fee Management for Failing Trades Under CSDR

Business Wire

corfinancial®, a leading provider of specialist software and services to the financial services sector, announces the launch of SureVu® Penalty Fees Processing and Management.

SureVu® helps buy-side firms manage failed trades under forthcoming changes to the Central Securities Depositories Regulation (CSDR), which requires trading venues and investment firms established in the EU to improve settlement discipline by 1 February 2022. These enhancements, known as the Settlement Discipline Regime (SDR), state that where a settlement failure occurs, depositories must impose cash penalties on failing participants.

SureVu supports complex processes associated with penalty fees management, with a set of management information dashboards that summarise data and priorities. SureVu reflects accumulating net fees, in multiple currencies throughout the penalty fee lifecycle. Furthermore, users can lodge and manage appeals against fees that are in dispute. Firms are adopting these new features to ensure they have a comprehensive solution and are ready to go live on 1 February 2022.

“Now that the European Commission has postponed the implementation of the Central Securities Depositories Regulation mandatory buy-in provisions following months of speculation, there are no further reasons to delay the deployment of a solution that supports failing trades. The postponement has created an opportunity for the industry to move forward and the time for action has come,” says Bruce Hobson, CEO at corfinancial. “A comprehensive solution like SureVu will ease the many additional operational burdens that are causing such industry-wide consternation. We suspect that these concerns essentially stem from the fact that many firms are still a long way away from having a tried and tested solution that is simple and quick to deploy.”

About corfinancial www.corfinancialgroup.com

corfinancial® provides software solutions and advisory services to banking and financial services organisations worldwide. The firm has offices in London, New York and Boston. salerio® is a post-trade processing solution which automates the flow of securities and treasury trades. SureVu® empowers buy- and sell-side firms to efficiently monitor and track security trades throughout the settlement lifecycle. BITA Risk® provides Investor Profiling, Portfolio Analytics, ESG Management and Portfolio Monitoring solutions through the BITA Wealth application. paragon® is a comprehensive front-to-back office fixed income portfolio accounting, processing and reporting solution for banks. costars® is an investment administration platform for third party administrators, fund supermarkets and wealth management companies.

David Veal
corfinancial
david.veal@corfinancialgroup.com

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COMUNICATO STAMPA - Responsabilità editoriale di Business Wire

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