SAPHYRE
The next part of Saphyre ’ s services today is its post-trade suite – Saphyre X – which effectively provides a streamlined post-trade service thanks to the groundwork being laid effectively in pre-trade .
“ Now , trade settlement can be as reliable as air transportation ,” Gabino adds .
“ We ’ re not in the business of crashed planes , which is how the finance industry works now with failed trades and other trade-associated issues . It ’ s getting the right security precautions in place before you trade to ensure the trade never fails to begin with .”
This is the optimal model in which traders can leverage Saphyre ’ s solutions – a group of solutions the company offered in its test package , Project Zero . Saphyre X was Project Zero before it was branded .
“ Over the past year , we ’ ve tested Saphyre X , tweaked it and now Saphyre X is 100 % ready to give organisations the real-time , post-trade outcomes they need ,” continues Gabino .
Indeed , with US trade now under T + 1 regulations , firms can either ramp up their labour efforts to hopefully make settlement happen in time – or they can leverage cutting-edge solutions such as those provided by Saphyre .
Gabino notes : “ Firms are asking themselves : ‘ How much labour do I have to add on ? Will more labour be indefinite ? Are our processes optimal ? Am I missing out on opportunities to focus on generating profits ? And , if I had automated technology with AI , could this
“With Saphyre , traders can digitally authenticate and authorise a resolution to a trade exception issue in post-trade with real-time automation ”
GABINO ROCHE JR CEO AND FOUNDER , SAPHYRE
all go away or could we actually maximise and focus on our specialties , save money and make money at the same time ?’.
The added labour struggle is already challenging for firms that do not leverage real-time settlement technology in a T + 1 environment , as Gabino explains :
“ If you imagine 4pm New York time which is T + 1 , the closing bell rings at the New York Stock Exchange . Trading had just stopped five hours before Tokyo , Hong Kong and Singapore wake up .
“ People in New York would have five hours to fix any trade issues at that point . But at that point in the day , people are going back to their families and enjoying their personal time . If an issue happens in a trade – something that pops up on a spreadsheet – they might not know until it is too late .
72 September 2024