SIX Securities Services has expanded its service offering by launching Advanced Settlement enabling financial institutions to process their settlement instructions directly from the trading system – on a fully automated, STP and real-time basis – via a single interface. The first client, Vontobel, has been using the newly developed, fully integrated service since 16 May 2017. 

With Advanced Settlement, SIX Securities Services introduces a new centralised, integrated and fully automated settlement solution allowing its clients to significantly boost the efficiency and minimise the risk of their entire settlement processes as well as consistently maintain high straight-through processing (STP) rates. A key aspect of this new offering is that, in future, Standard Settlement Instructions (SSIs; instructions on processing payments and invoicing) will be comprehensively and automatically generated by SIX Securities Services and managed via a central database.

As the pilot client for Advanced Settlement, Vontobel has been heavily involved in the development of the new service. Opting to be a pilot for this service reflects the fact that Vontobel is sharpening its focus on its core business.

With this cooperation, Vontobel highlights its role as a pioneer and emphasises the effort it is making to realise economies of scale across multiple markets while generating profitable growth for the Swiss financial centre. According to Peter Camenzind, Head of Transaction Banking at Vontobel, “We are taking an active role in shaping change in the Swiss financial centre. With Advanced Settlement, we can reduce operational risks and complexity in securities settlement for the whole market.”

Valerio Roncone, Head Markets & Clients, SIX Securities Services explains, “The changes underway in the financial sector are giving rise to fundamental challenges for our clients. With new value-added solutions such as Advanced Settlement, SIX Securities Services’ clients can focus more on their core businesses and build on their competitive advantages. We are proud to have such a reliable and knowledgeable partner like Vontobel with us as we launch this new era in securities settlement.”