Securant integrates access control for T+1 settlement

Securant integrates access control for T+1 settlement

San Franciscos-based access control specialist Securant Technologies is promising to rewire securities industry authorisation procedures in support of XML-based transactions for T+1 settlement.

The Securities and Exchange Commission is urging financial firms to implement a t+1 settlement cycle in 2002 in order to reduce the risk in stock and equities trades. The investment community currently has three days to complete financial trades.

By providing Straight Through Processing (STP) of server to server security and authorisation requests for XML equity transactions, Securant says iits ClearTrust SecureControl product will enable financial institutions to reduce settlement process redundancies and automatically verify, authorise, audit and notarise individual transactions.

"To achieve a t+1 settlement cycle, the financial services industry must leverage the Internet to streamline settlement operations and automate a complex series of transactions," says Bob Lonadier, director, security strategies, Hurwitz Group. "Products like ClearTrust SecureControl, which leverage XML to authenticate the identity of a user in the settlement chain before he or she sends a message, automate the authorisation process and will help the financial services industry move towards a t+1 settlement cycle."

Comments: (0)