We speak to Saphyre Co-founders Gabino Roche Jr ( CEO ) and Stephen Roche ( President ) on the importance of real-trading solutions post-T + 1
SAPHYRE
We speak to Saphyre Co-founders Gabino Roche Jr ( CEO ) and Stephen Roche ( President ) on the importance of real-trading solutions post-T + 1
Earlier this year , US trade settlement regulations shifted from a T + 2 to a T + 1 mandate – meaning all US trade deals have to complete the settlement process within 24 hours as opposed to the previous 48 hours .
In doing so , US stock markets are matching trade regulatory standards with other leading markets – the likes of European and Asian markets included . The move means US traders must adjust and speed up settlement processes .
This is where Saphyre can support leading financial institutions by offering trade settlement in near real-time , or – as co-founders Gabino Roche Jr and Stephen Roche like to call it – ‘ T + 0 ’.
To achieve near-instant settlement , traders must put in the work pre-trade , which is where Saphyre comes in with its expertise in trade settlement cultivated over seven years .
Building on Saphyre 1 with Saphyre X “ There are two parts to Saphyre ,” says Gabino . “ For the first seven years of Saphyre ’ s existence , we ’ ve been focused on pre-trade services – which we ’ re now calling Saphyre 1 .
“ We call it this because it ’ s the first step ; it ’ s the comprehensive solution traders need to have in one place to achieve near-instant trade settlement .”
70 September 2024