Electronic & Algorithmic Trading
Electronic execution depends on the stack behind the order: OMS, EMS, routing, market access, venue connectivity and algo controls.
Markets & Trading
Post-Trade, Clearing & Settlement
Most trade breaks are preventable. T+1 shortens the time available to prevent them.
Overview
Settlement failure is rarely a post-trade problem alone. It usually starts earlier in the lifecycle: trade capture, allocation, affirmation, matching, reference data, clearing, funding or settlement instruction quality.
Capmark helps banks, brokers and asset managers reduce breaks, fails and settlement risk across equities, fixed income, repo, FX and OTC derivatives. We redesign the post-trade lifecycle, automate matching and affirmation, strengthen clearing and reconciliation flows, and build the controls needed to keep fail rates down.
CSDR penalties attach a cost to settlement failure, and T+1 shortens the window for confirmation, allocation and affirmation. With the UK, EU and Switzerland moving to T+1 on 11 October 2027, firms need operating processes that complete in hours, not days.
What we do
We automate matching, improve allocation and confirmation workflows, and fix the instruction data that causes breaks. Same-day affirmation is built into the operations dashboard as a daily control measure.
We trace settlement fails to root cause, including SSI quality, reference data, booking practice, custody flow and funding cut-offs. We quantify penalty and funding cost, then fix the causes rather than adding manual effort.
We design and deliver the connectivity, account structures and workflows that move flow through CCPs, custodians and settlement depositories. Margin, clearing and settlement impacts are built into the design from the start.
We assess current readiness against trade-date allocation, confirmation, affirmation, FX, funding and settlement cut-offs. We then sequence remediation, automation, industry testing and control evidence ahead of the 11 October 2027 transition.
We automate cash, position and depot reconciliations against custodian, CCP and depository records. Break ageing, escalation and ownership are designed so operations teams can keep position integrity under control day to day.
What to expect
A Senior Practitioner leads from day one. The first weeks quantify break rates, affirmation timeliness, fail volumes, root causes and penalty exposure, then agree the target state with operations, technology and the desk.
Delivery runs in phases: SSI and data remediation, matching and affirmation automation, clearing and reconciliation integration, then testing, cutover and hypercare.
Engagements range from a focused fails-and-breaks assessment to full T+1 readiness and post-trade remediation ownership.
Sequenced through assessment and target design, then build and go-live.
01
Assess
Establish the current state, the constraints, the risks and the value at stake.
02
Define
Shape the target model and the business case with the executives who own the outcome.
03
Mobilise
Stand up the team, the plan and the governance around the outcome.
04
Implement
Design, build and test the change, with the business alongside.
05
Sustain
Cutover, hypercare and handover, so the business runs it under its own control.
The same five stages on every engagement, led by senior practitioners end to end. How we work
Impact
38
Countries covered by one onboarding and credit operating model
Reduction in settlement fails delivered on remediation programmes
Day 1
Senior-led delivery
Senior accountability from assessment through hypercare
Client result
Proven in the work, not the pitch.
Capital Markets · Regulatory Transformation
MiFID II trading controls and infrastructure across six asset classes
Leading Investment Bank · Equities, Derivatives, Commodities, FX, Credit & Rates
We helped deliver trading controls and market infrastructure change across algorithmic trading, direct electronic access, market making, clearing, surveillance and best execution.
- 80+
- Venues retained
- $50bn+
- Cleared derivatives volume
- Lower
- Compliance overhead
- Reduced
- Surveillance false positives
Read the case study
Insights
Related thinking.
Get in touch
Talk to a Partner about Post-Trade, Clearing & Settlement.
Tell us what needs to change and where the pressure or risk is showing.