Finextra.com
4 Mar 2008
Singapore Exchange ("SGX") is inviting public comment on the rule amendments to introduce the Pre-Settlement Matching Service ("PSMS"), which will automate the matching of settlement instructions of trades among Clearing Members and Depository Agents ("DAs").
The proposed PSMS is part of SGX Prime, an open access infrastructure that facilitates straight-through processing of trades for the securities market via the Exchange's clearing and settlement system. The automated PSMS will enhance market participants' operational efficiency and minimise errors by replacing the manual affirmation of settlement instructions.
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