Sprott Asset Management has selected SS&C Technologies’s SSCNet platform for automated settlement notification.
SS&C Technologies claims that its global network will enable trade communication between Sprott and its broker/dealers, custodian and prime brokers.
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Under the agreement, SSCNet will replace Sprott’s manual post-trade communication processes and consolidate all communication across a broad set of instrument and transaction types.
Sprott will also use SSCNet’s SWIFT gateway connectivity and automated email/fax functionality.
Johann Lau, VP of investment administration at Sprott Asset Management said: "Connecting our front-office system to SSCNet, which includes SWIFT connectivity and ISO standard messaging capabilities, will reduce time and errors when communicating trade details to our custodians and prime brokers. It enables us to make significant strides towards a straight-through processing environment.
"We have selected SSCNet’s automated settlement service as it helps all our participants benefit from a more efficient, standardized process."
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