Post-Trade, Clearing, Settlement & Collateral

The UK, EU and Switzerland move to T+1 settlement on 11 October 2027. We assess where the chain loses time — affirmation, allocation, cut-offs, funding, inventory — and deliver the workflow, platform and counterparty changes that make each step run a day faster.

Fails have identifiable causes: late affirmation, inventory gaps, standing-instruction errors, counterparty behaviour. We analyse fails at that level, fix causes rather than symptoms, and put in place the daily management routine that keeps the rate down.

We work on the collateral chain from margin call to settlement: operations capacity, dispute handling, eligibility and optimisation across CCP and bilateral obligations, and the funding picture behind it. The aim is fewer manual touches and better use of available collateral.

Clearing, settlement and custody arrangements are reviewed on evidence: volumes, fees, service performance and the operational cost of each relationship. We support renegotiation and, where warranted, migration between providers — planned and executed without interrupting daily settlement.

We rebuild reconciliations around the breaks that matter: coverage of positions, cash and trades, matching rules tuned to reduce noise, and break ownership with ageing visible to management. Manual reconciliations are automated where the volume justifies it.

Where the work is done, by whom and on what platforms — designed as one picture across confirmation, settlement, collateral and reconciliation, so capacity, location and platform decisions are taken on the whole chain rather than function by function.