Security Payment Orders
Investment banks / Asset Managers / Pension Funds / Insurance Companies / Agent Lenders
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.
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.
– Head of Operations