Baton Systems launches DLT-powered post-trade solution Core-Payments ahead of T+1

Rick Steves

“With the transition to T+1 now just months away, and with regulators growing increasingly vocal around the need for greater settlement control and supervision, it is paramount that market participants ensure they are fully prepared to cope with any rise in settlement risk

Baton Systems, a global fintech company leading the charge in digitally transforming post-trade processing through distributed ledger technology (DLT), is proud to announce the launch of Core-Payments. This game-changing digital solution empowers financial firms with automated, comprehensive, and real-time control of their cash settlements.

Core-Payments leverages Baton’s cutting-edge DLT workflows to usher in a new era of settlement control. It automatically tracks and reconciles inbound cash settlements while orchestrating the release of outbound cash payments based on configurable rules and real-time data. This groundbreaking solution significantly reduces the need for manual intervention in crucial reconciliation and control processes, including netting and pre-settlement affirmation.

Ability to reconcile inbound and outbound payments in real-time

One of Core-Payments’ standout features is its ability to reconcile inbound and outbound payments in real-time. This is a significant departure from the industry’s historical standard of T+1 or longer settlement cycles. With the transition to T+1 for US securities just months away, Core-Payments arrives at a pivotal time, granting market participants real-time visibility and enhanced control over their settlement functions.

By automating key settlement processes, Core-Payments not only accelerates essential functions but also reduces operational costs. It empowers financial firms to operate more efficiently, lower costs, increase their counterparty footprint, and meet growing regulatory requirements. Additionally, it provides clear visibility into counterparty settlement risk exposure and current and forecasted funding requirements.

Core-Payments is designed to be deployed modularly, offering users a flexible set of interfaces across various modules, including Visualisation, Netting/Pre-Settlement Affirmation, Controlled Settlement, and Analytics. Furthermore, all data inflows and outputs are supported by a range of APIs and integration protocols. This means that firms can digitally transform their approach to payments and settlement without requiring their counterparties to adopt new technology.

Transition to T+1 now just months away

Alex Knight, head of EMEA, Baton Systems, said: “With the transition to T+1 now just months away, and with regulators growing increasingly vocal around the need for greater settlement control and supervision, it is paramount that market participants ensure they are fully prepared to cope with any rise in settlement risk. For too long now, legacy processes for monitoring and managing settlement risk have stifled industry progress. Adopting cutting-edge solutions like Core-Payments is a pragmatic first step in, helping firms manage risk, operate more efficiently, lower costs, increase their counterparty footprint, meet growing regulatory requirements, and provide excellent customer service.”

Baton Systems has facilitated the settlement of over $7.1 trillion in cash and securities, partnering with some of the world’s largest banks to leverage its technology. The company’s mission is to revolutionize the entire post-trade process, creating interoperable and connected digital market infrastructures.

As the financial industry gears up for the T+1 transition, Core-Payments from Baton Systems promises to be a game-changer. It empowers financial firms with the tools they need to navigate the evolving landscape of settlement with automation, real-time control, and enhanced visibility.

Read this next

Executive Moves

Montenegro approves Do Kwon’s extradition to US

Do Kwon, the former CEO of cryptocurrency startup Terraform Labs, is reportedly facing extradition to the United States to face fraud charges. Kwon has been imprisoned in Montenegro since March, and Montenegro’s Justice Minister Andrej Milovic is expected to make a formal decision on the extradition on December 20.

Institutional FX

Marex seeks US listing following failed UK IPO, eyes $2.8B valuation

London-headquartered commodities broker Marex has kicked off plans for a US listing, opting against a London public float after a failed attempt two years ago.

Retail FX

ThinkMarkets IPO scrapped as SPAC merger falls through

Canada-listed blank check company, FG Acquisition Corp., and Melbourne-based broker ThinkMarkets have jointly decided to call off their previously announced merger plan.

Retail FX

Exness trading volumes slow down in November, dip below $4B mark

FX brokerage powerhouse Exness reported a double-digit decrease in its trading volumes for the month of November 2023 as the market environment stabilised following a period of high volatility.

Executive Moves

iGaming veteran Breon Corcoran replaces June Felix as IG CEO

Spread betting and CFDs broker IG Group plc today announced the appointment of Breon Corcoran, the former chief executive of Paddy Power Betfair, as its new CEO, effective from January 29, 2024.

Retail FX, Reviews

A Guide to Forex Trading and Quotex App Download for PC

Trading in financial markets presents a great opportunity for profit. One of the popular choices nowadays is foreign exchange trading, also called Forex or FXm which involves buying and selling national currencies to make a profit. 

Digital Assets

Tokensoft and Chainwire Form Partnership to Boost Crypto PR Outreach

Through this partnership, Tokensoft leverages Chainwire’s expansive PR platform, enhancing its global reach within the cryptocurrency community and ensuring coverage for its token distribution, claims, and fundraising campaigns.

Digital Assets

No escape for Binance’s CZ: Court blocks travel before sentencing

A federal judge in Seattle has ruled that Chanpeng Zhao, the former CEO of Binance, is not permitted to return to his home in the United Arab Emirates before his sentencing in the United States, set for February.

Digital Assets

FINMA-regulated digital asset provider Taurus expands into Germany

This expansion follows recent moves by BaFin to accelerate the licensing of crypto custody services, aiming to boost market confidence. Following this, several new licenses were issued, notably to Commerzbank, making it the first full-service financial institution in Germany to receive a crypto custody license.