Saphyre, a leading pre- and post-trade fintech platform for some of the world’s largest financial institutions, has announced a limited engagement initiative to pilot Saphyre’s T+1 solution for financial institutions, code named “Project Zero”.
“Saphyre leverages its memory of digitized pre-trade account data for its clients to eliminate redundant post-trade activities as well as reduce trade exceptions management from hours to minutes, which is key for T+1. An example of this is real-time SSI resolution for mismatches and the elimination of callbacks,” said Saphyre CEO and Founder, Gabino Roche. “The industry is rushing to crunch manual processes from 48 hours, T+2 today, to 24 hours for T+1. But you can’t get the efficiency and performance needed for T+1 with more bodies and manual processes. It must come from innovation and technology. Enter Saphyre.”
Saphyre has 105 globally-recognized patents that remember a data point entered and a document shared in perpetuity. This is for the full life cycle of a fund, recalling information from inception, meaning from pre-trade through post-trade, and maintaining and updating this information in real-time.
“When firms adopt Saphyre for their account setups and maintenance, executed trades are processed swiftly in post-trade,” states Saphyre President and Co-Founder Stephen Roche. “As a result of increased efficiencies through the Saphyre platform, we already see T-Zero scenarios. Hence the name of Saphyre’s Project Zero. We are solving tomorrow’s trade processing issues today.”
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