SIX Launches Advanced Settlement After Vontobel Pilot

New system will centralize the generation and management of settlement instructions.

clearing and settlement
The new service allows standard settlement instructions to be generated by SIX and managed centrally.

SIX Securities Services has announced the launch of a new service designed to streamline settlement processes, following a successful pilot with a Swiss private bank.

Advanced Settlement, launched on June 19, will enable standard settlement instructions (SSIs) to be created by the firm and managed from a central database. SIX says the firm will allow SSIs to be managed on a fully automated, real-time basis, giving clients a straight-through processing chain as opposed to the previous, manual me