The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced a collaboration with UK fintech company SSImple to help custodians seamlessly automate the submission of validated, accurate and complete Standing Settlement Instructions (SSIs) into DTCC’s ALERT, the world’s largest and most trusted SSI database.
The Financial Markets Standards Board’s (FMSB’s) Core Principle 1 calls for the automation of SSIs as a key step in reducing settlement risk, as a significant number of trade fails are a direct result of inaccurate or incomplete SSIs.
In an effort to enhance data accuracy and support market participants to prepare for Europe’s move to T+1, this collaboration brings together DTCC’s ALERT and SSImple’s SSI Comply product to further strengthen data governance and reduce settlement risk while aligning with the FMSB’s recommendation to automate SSI transmission by the end of 2026.
SSImple’s SSI Comply is a Financial Markets Standards Board (FMSB)‑compliant solution for custodians to build and maintain a single, validated source of SSIs. SSI Comply validates and confirms accuracy and completeness of these SSIs from custodians and automates their transmission via a managed, clean SSI flow into ALERT.
“As markets prepare for Europe’s move to T+1, automating SSIs is no longer optional – it’s foundational,” said Val Wotton, Managing Director and Global Head of Equities Solutions at DTCC. “This collaboration with SSImple helps custodians eliminate manual complexity and improve data quality by seamlessly feeding clean, validated SSIs into DTCC’s ALERT platform. By establishing a validated, automated SSI flow into ALERT, the collaboration strengthens standardisation and helps the industry build greater resilience as settlement cycles accelerate.”
“Getting clean, validated data into DTCC ALERT has historically been a challenge for custodians,” said Bill Meenaghan, CEO of SSImple. “SSImple provides transformation, normalisation and validation capabilities, enabling accurate and complete SSI data to be transmitted by custodians into ALERT in real-time. This collaboration with DTCC ensures custodians can achieve automation quickly and efficiently, without a heavy technology lift. We see this collaboration as an opportunity for the industry to further leverage ALERT to drive standardisation and operational efficiency as European markets prepare for T+1.”
As settlement cycles compress and operational precision becomes increasingly critical, DTCC and SSImple are focused on helping the industry move from manual SSI data workarounds to scalable, automated foundations. By strengthening SSI standardisation and data accuracy today, the collaboration supports safer, more resilient settlement processes and positions market participants to navigate Europe’s transition to T+1 with greater confidence.