LONDON, Sept. 24, 2019 /PRNewswire/ -- Taskize, the UK based Fintech for inter-company workflow, today announced the launch of its service for CSDR Settlement Discipline.
CSDR Settlement Discipline will cause the industry to focus on settling more reliably in transactions involving European securities. But there needs to be a solution for when settlements fail and different parties must work together, especially during the extension, buy-in and pass-on processes.
The Taskize solution for CSDR Settlement Discipline provides the inter-company process support to meet this need. The solution enables financial industry participants to be prepared for the manual processes required for when CSDR Settlement Discipline comes into force, giving them more time to improve their STP. The Taskize CSDR Settlement Discipline solution is a standard part of the service, available to all subscribers.
Euroclear today announced that it will partner with Taskize to offer its clients this solution.
Jo Van de Velde, Head of Group Strategy and Product Expansion, Euroclear:
"Taskize has been the preferred client service channel for Euroclear for almost three years and extending its use for CSDR Settlement Discipline will bring even more value to our clients and the wider market, offering a service to address issues related to the penalty process and reporting buy-in activity."
John O'Hara, Chief Executive Officer, Taskize:
"Taskize is already used by over 200 financial organisations to resolve post-trade issues in a timely and controlled manner. We are delighted to help our clients who are concerned by the increase in unstructured resolution activity due to CSDR Settlement Discipline."
Taskize is an open platform serving a community of over 200 financial firms in 50 countries, comprising buy-side, sell-side and infrastructure providers including LCH, Euroclear and DTCC.
Taskize helps financial industry operations by enabling clients, colleagues, and counterparties to securely resolve queries and exceptions efficiently across firms. Taskize's unique Smart Directory™ enables individuals to work with the right people, in the right roles, in the right firms to resolve problems in a timely and compliant manner. Founded in 2012 by the creator of open standard messaging infrastructure for capital markets, Taskize is privately owned and backed by Euroclear.
SOURCE Taskize; Euroclear