ECONOMYNEXT – Sri Lanka-based LSEG Technology, a unit of London Stock Exchange will provide clearing, settlement and risk management to trades in the Philippines Stock Exchange.
LSEG Technology will implement its Millennium Clearing and Millennium Risk products at Securities Clearing Corporation of the Philippines (SCCP), a unit of the stock exchange.
?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,” Ann Neidenbach, Chief Information Officer, LSEG Technology said in a a statement.
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, LSEG Technology said.
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.” Ramon Monzon, President and CEO, Securities Clearing Corporation of the Philippines said.
LSEG Technology is used in around 40 capital markets and trading systems around the world including the London Stock Exchange.
The firm was originally Sri Lanka-based start-up which first automated the Colombo Stock Exchange in the 1990s. (Colombo/Dec15/2019)