Even accurate SSIs are ineffective without clear agreement on the settlement location. Without confirmation of settlement location at point of trade, firms risk settlement failure in a T+1 world. SSI readiness must go hand-in-hand with workflow alignment and trade instruction clarity, in line with the core priniciples from the FMSB. 

A key learning from accelerated settlement in North America was the increased importance of the settlement location data field. Accurate and complete SSI data, including settlement location, is crucial for both manual and automated SSI instructions. Not entering a settlement location delays instruction generation in automated SSI solutions and generates more manual steps for those not automated, compounding the risk of mismatched SSIs.  

The demand for automated SSI solutions in North America, the UK and Europe emphasizes the need for standardized and complete data to facilitate efficient settlements in line with regulatory advancement.  

At EquiLend, we’re already enabling this transformation through our Enhanced SSI Repository powered by SSImple—providing automated enrichment, validation, and system-to-system exchange of SSIs to reduce fails and increase settlement efficiency. 

EquiLend and SSImple’s partnership is an example of the opportunities for improvement to the trade lifecycle which still exist. Our Enhanced SSI Repository and SSI management solution, supports enhanced SSI enrichment, storage and sharing, accepting SSI inputs directly from the custodian or buy-side client. Simplifying SSI management and sharing reduces latency in the trade lifecycle and paves the way for greater efficiencies in the sector.   

William Daws, Global Lead, EquiLend Post Trade Client Engagement: “For many years SSIs have been discussed on industry forums as a problem that has not yet been fully solved for. We welcome the FMSB recommendations to drive system to system exchange of SSI information and to standardise the exchange of SSI data across the industry. The core principles already have great synergy with EquiLend’s, , SSI Repository, powered by SSImple.”  

Bill Meenaghan, Founder and CEO, SSImple: “As the industry moves toward T+1 settlement, the FMSB’s focus on electronic SSI sharing in Core Principle 1 is crucial. SSImple supports this shift with an automated SSI repository that ensures accurate, timely, and standardized system-to-system exchange of SSIs.  

Beyond simplifying electronic sharing, SSImple also eliminates the need for manual cash callbacks, streamlining processes and reducing inefficiencies. By reducing reliance on manual tasks, SSImple helps firms lower operational risks and costs in the medium to long term, aligning with the FMSB’s recommendations and preparing institutions for a more efficient and cost-effective T+1 settlement regime.’