19 August 2017
visit www.avoka.com

CanDeal introduces straight-through link to CIBC Mellon

21 April 2004  |  2109 views  |  0 CanDeal introduces straight-through link to CIBC Mellon

Dealer-backed Canadian fixed income network CanDeal has instituted a direct link between its DealXpress platform and custodian CIBC Mellon for the electronic exchange of matched trade information and allocations with investment managers.

Robert Shier, CIBC Mellon's senior vice president, chief operations officer, says the latest version of DealXpress will improve straight-through processing rates between investment managers and custodians.

"Trades that come to us through DealXpress shouldn't require our intervention, and result in higher matching rates at the depository, which means we experience fewer trade exceptions," he says.

CanDeal says it worked closely with its customers and CIBC Mellon to define and test this new capability.

In a recent paper promoting trade processing best practices, the Canadian Capital Markets Association (CCMA) stated that the ability to pass financial information electronically on a timely, accurate system-to-system basis, to all parties in a transaction chain, is considered a pre-requisite to shortening the settlement cycle to trade date plus one day (T+1).

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Thomson signs Henderson to IR system; strikes CanDeal data pact

Thomson signs Henderson to IR system; strikes CanDeal data pact

11 February 2004  |  4023 views  |  0 comments
Isitc Europe presents SSIfresh settlement model

Isitc Europe presents SSIfresh settlement model

29 January 2004  |  5140 views  |  0 comments
CanDeal launches DealXpress for trade processing

CanDeal launches DealXpress for trade processing

20 August 2003  |  2800 views  |  0 comments
TSX Datalinx to distribute CanDeal prices

TSX Datalinx to distribute CanDeal prices

04 June 2003  |  5822 views  |  0 comments
Basis100 bails out of CanDeal

Basis100 bails out of CanDeal

14 April 2003  |  1811 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.worldpaymentsreport.comdownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8272 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7505 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6568 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6194 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6048 views comments | 11 tweets | 9 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job