IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that Information Mosaic has won the ‘Innovation in Post-Trade Technology’ category at the annual Leaders in Custody Awards presented by Global Custodian magazine.
The introduction of TARGET2-Securities (T2S) in Europe, which aims to end fragmentation and lower the cost of cross-border settlements, is altering the traditional sub-custodian asset servicing model. A new model is emerging to support those sub-custodians who wish to service the needs of global custodians or international central securities depositories directly connected to T2S.
The enhancements made to the Information Mosaic solution, IMSecurities, address these new requirements by enabling sub-custodians to operate simultaneously in two processing modes. One mode supports sub-custodians’ traditional model, where positions are held locally, while the other enables them to provide asset servicing on virtual balances held by directly connected participants across T2S markets.
“True technology innovation has to be celebrated in securities services, particularly when it is based around a platform as crucial to the industry as T2S,” said Jonathan Watkins, managing editor at Global Custodian. “The Information Mosaic post-trade platform, IMSecurities, solves a problem for sub-custodians by enabling them to operate two processing modes simultaneously, thereby facilitating the emerging asset servicing business models under T2S.”
“These product enhancements have been made after extensive collaboration and engagement with our global user community,” said Paul Taylor, senior vice president and global head of corporate actions at IHS Markit. “Problem solving for the client remains at the core of everything we do. We strive to continuously innovate and enhance our products and we are now in a strong position to provide post-trade technology solutions that service the needs of the marketplace, and sub-custodians in particular, under T2S.”
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions.