SunGard Securities Processing's STN Settlements service has received certification from the Fixed Income Clearing Corporation (FICC) for its mortgage-backed securities division's (MBSD) real-time trade matching (RTTM) interface.
STN Settlements is an automated clearance and settlement service that consolidates multiple messaging interfaces on a single platform, connecting custodians, brokers and banks to custodians, depositories and clearing institutions.
The MBSD interface is the second component of the STN Settlements FICC fixed income service offering, which also includes the FICC Government Securities Division (GSD) interface, providing users with real-time interactive trade comparison and matching through a Web-based browser application.
The vendor is also developing an interface for FICC's Corporate, Municipal and UIT (CMU, formerly NSCC) Services Division matching service and interactive messaging, which is on target for delivery in-line with the anticipated FICC rollout in Q4 2003.