Pirum has announced new connectivity and interoperability measures that aim to assist clients in the upcoming transition to T+1 for the US and Canada.
The developments will enable users of the FIS Securities Lending Processing Platform (formerly known as Loanet) to connect with users of Pirum’s post-trade services or FIS’ platform, with full interoperability and network coverage across all platforms.
Pirum says this will increase straight-through processing of recalls and callback messages, enabling clients to issue recalls and manage callbacks centrally with connectivity to trading counterparts on either platform.
Philip Morgan, CEO of Pirum, says: “I am thrilled to announce this significant evolution ahead of T+1 regulatory change, which reiterates Pirum’s commitment to providing global automation and supports our expanded coverage in North America. Much like for the Securities Financing Transactions Regulation (SFTR), industry participants asked that service providers work together — we listened and reacted accordingly.”
