SWIFT has recently completed an independent review of the Straight-Through Processing (STP) capabilities of Clearstream's operations as part of Clearstream's ongoing drive to improve processing efficiencies. SWIFT regularly undertakes such reviews to enable its users to maximise their processes and benchmark their progress. The review and analysis completed last month, focussed on the key operational areas of Custody, Settlements, Reconciliations, Network Management and studied aspects such as Customer Service, ISO 15022 implementation, Message Quality and MT 599 usage. One of the highlights was in the Settlements area, with Clearstream achieving STP rates of upto 98.5%. The results showed that outstanding progress had been made over the last five years after a series of system and process enhancements have been implemented. SWIFT also delivered a list of recommended future improvements that Clearstream is looking to implement in the near future.
Charles Welham, Director STP and Initiatives, SWIFT, commented: "Our STP review of Clearstream showed very clearly that they have a strong strategic STP vision and are making great progress in implementing it. The results show how management is focussing on delivering the efficiencies to the benefit of our users but also, the results demonstrate that a comprehensive implementation of ISO 15022 can really improve operational efficiency."
Matthias Ganz, Chief Operating Officer, Deutsche Börse Group, added: "This was an important review for us and the independent assessment undertaken by SWIFT has showed the high standards we have already achieved. It is part of our overall strategy of maximising efficiencies along the entire value chain for the benefit of our customers and is a key part of our future growth and development."
