Clearing and Settlement
Global Custodians and the sub custody functions of Broker Dealers and domestic market custody providers are all vital in today's developing international market place. With portfolios increasing in product complexity and imaginative strategic investing across international borders, it is the efficiency of the Custody function that can determine the costs and risks for the investor. SWIFT messages have benefited the wholesale market's clearing and settlement capabilities. With many vertical silos in trading and settlement, the Custodian is under more pressure than ever to service their customers and provide clearing and settlement efficiency. Market fragmentation and changing regulatory requirements are major problems, putting intense pressure on the Custodians ability to develop fast and effective custody system solutions.
megacustody, Vermeg's Custody Solution is operating in some of the worlds top Custodians, at high intensity, meeting the exact demands of global regulators and changing regulations. Megara, of which megacustody is a module, is an industry certified system which has been SWIFT accredited for Securities Settlement every year since 2002.
megacustody's modular functionality produces flexibility to fit into an existing system's architecture allowing any type and size of firm offering custody services to gain the benefits utilised by large Blue Chip Custodians. The scalable features provide automation of core custody processing, whilst servicing manual procedures when called for by physical certificate business. The agility to handle both electronic and physical deliveries with equal reliability makes this custody system perfect for domestic custodians in the international markets as well as the Global Custodian. The design of megacustody is perfect for the evolving global market with its focus on meeting regulatory needs whilst supplying the technical tool to offer great client services.
megacustody® can deliver the following benefits:
- Process driven for building a STP environment to any type of custody need
- Secure and efficient physical stock handling
- Commission and fee handling
- Amendment and cancelation management
- Modern communication capability
- Links to CSDs and ICSDs
- Meets regulatory requirements
- SWIFT Messaging
- Modular & Flexible design