BME subsidiary Iberclear has implemented the Fixed Income SUC, a single matching system for the registration, clearing and settlement operations platform for private and public fixed income securities. This completes a large-scale technological project known as the Unified Communications Window.
With the single matching system, the Spanish securities depository can incorporate the most advanced international standards into its fixed income operations, both in matching processes and in communications. This will eliminate the need for pre-matching by phone and add efficiency to the important settlement process.
With the Unified Communications Window, Iberclear participating entities can use the SUC-Traspasos and SUC-Loans systems, which are already fully functioning, for their stock exchange securities settlement platform and the new Fixed Income SUC system for their fixed income platform. All feature the most up-to-date connectivity mechanisms, such as SwiftNet.
Iberclear said that the completion of the project puts it at the technological forefront in handling settlement orders, as well as in connectivity and communications with its participating entities, thus facilitating straight through processing.