Since joining Pirum from running EMEA flow trading at JP Morgan, it’s been such a comfort to see from the inside, how all the Pirum product suite works in harmony to create a solution that will prepare and support the industry through these transitions to T+1 settlement. Everything from pre-trade onwards can be automated, with the complete lifecycle running with virtually zero manual intervention. It’s great to see a single platform with modular solutions that are already helping our clients meet the levels of automation required as we move to a more digital native world.
Case in point: SSIs – never more important than today due to the T+1 reality stateside, looming implementation date in the UK & Europe, and fast-approaching certainty in APAC.
The way Pirum’s Post Trade Services has automated and manages millions of SSIs on the post trade side of the securities finance trade (for both Equity and Fixed Income) provides a salutary example for pre-trade and trading desks in what to look for when choosing a technology partner.
After all, as a Managing Director at BlackRock recently mentioned on the SBL episode of our T+1 webinar series: "SSIs is still the second biggest reason why securities lending trades fail. There's just no excuse for that.”
It’s difficult to assess options when many of the SSI solutions marketed by vendors appear similar. Dig deeper, however, and a common weakness emerges in most offerings: single repository dependency requiring critical mass of adoption in a short timeframe.
Many of the other solutions we see out there require clients to maintain SSIs in the vendor’s repository. Yes, you can connect your existing repositories too, but that leads to managing the same SSI data in multiple places and more cost, with what we hear most from our clients is that they don’t want another set of data to maintain outside of their own repositories that connect to their settlement systems.
The question we at Pirum ask is: why would anyone want SSIs duplicated across systems? That perpetuates exactly the fragmentation problem the industry is trying to solve.
Pirum's approach is fundamentally different: we're repository agnostic and interoperable with any repository. Our post trade solution connects to whatever SSI repository you currently use – your own system, or another provider. We don't force infrastructure choices on you; we enhance what you already have.
What I’ve quickly come to understand here is that if there’s one thing that resonates most with clients it’s this: proven track record. In the case of SSIs, we're not building a T+1 solution – we already have one. Our post trade SSI module has, for many years now, been managing millions of settlement instructions across the complete Securities Lending, Repo, and Collateral Management lifecycle.
This isn't theoretical. Major institutions don’t have to sign up to other repositories. They just connect to our platform using their existing infrastructure.
SSIConnect, simply put, will translate each counterparty’s bespoke pre-trade nomenclature to communicate efficiently which SSI or internal account should be used. This functionality is then consistent for any trades booked via Pirum TradeConnect and then leveraged throughout the Pirum post trade product suite, including our RepoConnect and CoacsConnect services, to allow a complete and connected lifecycle solution.
Another benefit that sets our SSI solution apart isn't just the repository-agnostic design – it's how seamlessly it plugs into our complete post-trade ecosystem:
This isn't bolt-on functionality – it's native integration across SBL, Repo, and Collateral that most clients didn't realize was possible until they see it demonstrated.
If you're evaluating SSI solutions for T+1 readiness, ask these critical questions:
Institutions that secure proven SSI automation now will enter 2026 with confidence. Those that wait risk discovering in budget review season that they're choosing between unproven solutions and incomplete preparation.
And with Pirum TradeConnect that lesson is easily and emphatically highlighted. The SSIConnect module enables ‘Get it right, pre-trade’ operations and delivers, as a result, manifold competitive benefits, including enterprise data, true cost of trade analysis, and accurate and real-time data to power AI solutions. These are the competitive advantages for securities finance in general, and those that ignore them today will likely fall behind their forward-looking competitors tomorrow.
The choice is clear: proven performance over promises, integration over fragmentation, and solutions that enhance your existing infrastructure rather than replacing it.
For more information about Pirum's repository-agnostic SSI solution and T+1 readiness capabilities, contact our team.