LSEG Technology inks deal with Philippines clearing house

Mark Johnson's picture

LSEG Technology has announced that Securities Clearing Corporation of the Philippines (SCCP) has selected LSEG Technology’s Millennium Post Trade solution to improve its post trade processes. 

SCCP is a wholly-owned subsidiary of The Philippine Stock Exchange. 

As part of the agreement, LSEG Technology will implement Millennium Clearing and Millennium Risk products, enhancing SCCP’s clearing, settlement, risk and collateral management capabilities.

LSEG Technology’s Millennium Post Trade solutions will provide PSE’s clearing house, SCCP, with a fully integrated real-time clearing, settlement, risk and collateral management environment. 

The technology will help SCCP meet global best practices and standards such as CPMI-IOSCO principles for financial market infrastructures (the PFMIs). 

Post trade features

The post trade infrastructure uses industry standard messaging such as FIXML and ISO and provides features such as real-time marking to market and initial margining through HVaR; collateral management and margin call workflows; execution of real-time and batch settlement; and payments with commercial banks and SBL for Philippine clearing participants in the equities capital market.

“LSEG Technology is delighted to be providing PSE’s Securities Clearing Corporation of the Philippines with Millennium Post Trade solutions for its clearing, settlement, risk and collateral management functionality”, said Ann Neidenbach, CIO, LSEG Technology. 

“Built upon the Millennium Advanced Platform, LSEG Technology’s Millennium Post Trade solutions provide significant benefits for our customers by improving operational efficiency, enabling adherence to international standards, and reducing the total cost of ownership.”

Ramon Monzon, President and CEO, Securities Clearing Corporation of the Philippines: “LSEG Technology’s Millennium Clearing and Millennium Risk deliver an efficient and effective clearing, settlement and risk management solution. 

“Adoption of this technology will enable us to enhance the services we provide and better support our clearing participants, investors and the wider Philippine market.”

LSEG Technology delivers robust, scalable, high-performance technology including broker, exchange, market data, risk and collateral management, surveillance, clearing and settlement products to customers around the world. 

Its market-leading trading and post trade products, empowered with key patented technology, helps improve operational efficiencies for over 40 financial market infrastructure and financial services firms, which include London Stock Exchange Group markets (London Stock Exchange, Borsa Italiana, Turquoise), HKEX, Johannesburg Stock Exchange, Singapore Exchange, and other markets worldwide.

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