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Thanks to SWXess, SIX Swiss Exchange is able to offer a fully integrated trading platform
which has direct links into the
clearing and settlement
infrastructure in the form of
locked-in trades.
Immediatley after execution of a trade, fully automated settlement instructions is forwarded
to the relevant
central counterparty (CCP) or directly to the central securities depository (CSD).
Straight-through processing
Straight-through processing (STP) is facilitated by the use of routing information
entered by SIX Swiss Exchange and various
service partners.
The following information from SIX Swiss Exchange - which is transmitted together with the settlement
data - allows participants to link transactions to their back-office platforms:
-
Trade ID:
A sequence of 16 characters that uniquely identifies each transaction.
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Bank Internal Reference:
Another character sequence that the participant
can voluntarily add to each transaction. It is used by back-office systems to link settlements
with transactions fully automatically.
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