Clearstream upgrades Creation platform for real-time reporting and STP

Clearstream upgrades Creation platform for real-time reporting and STP

International depository Clearstream has introduced real-time and continuous reporting and improved exceptions processing and corporate actions functionality as part of a major new release of the Creation settlement and custody platform.

The enhancements were rolled out over the weekend and follow a detailed dialogue with customers says Clearstream.

The new ‘real-time reporting service’ offers customers using Creation via Swift the ability to subscribe for the receipt of key information such as settlement status and processing messages in real-time. The ‘continuous reporting service’ delivers reports up to four times an hour on a 24-hour basis across all channels (CreationOnline, CreationDirect and Creation via Swift).

The depository says both these services will improve transaction management by enabling customers to react more quickly to the status of their transactions and to monitor their positions more effectively.

Clearstream has also introduced a new 'potential matrching service' as part of the upgrade, which reports unmatched reason codes and potential matching candidates.

Standing payment instruction functionality has additionally been improved to offer users the ability to save withdrawal of funds instructions as a template, easing the subsequent input of repetitive instructions.

In the custody arena, Clearstream has introduced 'uninstructed balances service' for voluntary corporate actions and tax certification events. As a result, says the depository, users of CreationOnline and CreationDirect will immediately benefit from better exception handling support and quicker identification of missing corporate action or tax instructions. In addition, Clearstream’s Corporate Actions Notification service will also benefit from enhanced securities balance updates.

Also included in the upgrade is the full implementation of the Swift 2005 standards and the Securities Market Practice Group (SMPG) recommendations.

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