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SPO Connect

Security Payment Orders

Key benefits

  • Fast onboarding process requiring zero IT effort or build
  • All SPO activity centralized into a single screen
  • Optional maker-checker functionality enforces secondary approval for cash movements
  • Single or bulk submissions are supported at either asset or net level
  • Comprehensive audit trail created for all activity
  • Filtering enhancements provide the flexibility and ease to search, filter and sort all data
  • Pre-advice functionality grants the ability to pre-approve charges, reducing instruction overhead and improving cash settlement timeliness
  • Connectivity with Pirum’s market leading securities finance automation hub

Investment banks / Asset Managers / Pension Funds / Insurance Companies / Agent Lenders

Overview

Now offered as a standalone service, SPOConnect provides an automated, scalable, and centralized solution for managing all Security Payment Order (SPO) activity.

The service is available to any area within your organization that process Security Payment Orders.

For most market participants, the current SPO instruction process is manually intensive, open to error and time consuming. Participants key in, accept or reject, and check statuses for thousands of SPOs each day. Pirum’s SPO service can save organizations hours a day, freeing up staff to focus on revenue generating activity.


How it works

Pirum uses real-time connectivity with the DTCC to streamline the management of cash activity and improve oversight and control. This is achieved by providing an easy to use, permission-based screen which offers bulk submission and sophisticated pre-matching logic along with a full user audit.

SPOConnect achieves a 100% STP rate to DTCC and offers valuable time saving to all market participants processing SPOs daily.


Client Feedback

“The new SPO screen is a straight through processing solution for cash management. Its dynamic interface to pre-advise on any SPO charges reduces the time it takes to approve counterparty charges while proactively identifying any missing SPO activity.”

– Head of Operations