Dorsum’s Securities Suite’s clearing module is among the best at the WealthBriefing Europe 2021 awards


Dorsum has been selected as one of the best in the transaction processing category at the 9th Annual WealthBriefing European Awards.

Now in its ninth year and building on the long-standing success of its independent judging process, finalists were announced for the WealthBriefing European Awards 2021. Having reported on the wealth management industry for over 15 years and is responsible for many research reports specifically covering the European wealth management market, WealthBriefing is well placed to oversee a process that fairly rewards achievement, top-class performance and innovation. Being among the finalists at the WealthBriefing Award sets organisations and individuals apart from their peers and is a tangible demonstration that they have something special to offer.

Commenting on the firm’s achievement, Róbert Kő, CEO, Dorsum said: “We are exceptionally proud as this is the first time that a solution from our Securities Services product suite is recognized internationally. We launched this product line a year ago and we are already in discussion with several European banks for possible cooperation. Being among the finalists confirms that we are solving pressing pain points of our customers with the right digital solutions and we are happy that we are able to do so.”

According to WealthBriefing: “Judges were very impressed with this finalist’s submission which was detailed and very specific as well as packed with compelling examples. Dorsum is clearly one of the leaders in the field of wealth management transaction processing.”

The module, which was chosen among the best, serves the needs of the securities service departments of investment service providers and custodian banks with fully automated STP (straight-to-processing) workflows. It meets the legal regulations and market requirements by displaying all securities settlement steps and data in a transparent and user friendly way. It lists all incoming and outgoing SWIFT messages separately and the built-in audit and control functions perform pre-check inspections. Errors are displayed separately on a Task Manager screen with a warning.

Additionally, the module automatically creates business transactions in the back-office systems via interfaces. In accordance with the Client Agreements, it automatically creates and sends a SWIFT instruction from the business transactions on or before the settlement date, following the cash and securities liquidity status received from the back-end system, using the settlement standards (SSI). SWIFT-based status messages received from the market can be continuously monitored, and forwarded either via SWIFT, e-mail or displayed directly on web platforms. On the actual day of settlement, an automated STP process for securities settlement will be initiated based on confirmation coming from the market. The module gives the actual settlement date, settlement amount, and new “settled” status to back-office systems in order to start the accounting (booking) processes analytically. Once the module has received the “booked” status back from the back-office (cash and securities management) systems, it automatically sends a confirmation to customers via SWIFT, e-mail or web platforms and displays the accounted status. The real advantage of the product is that due to the automation of the settlement processes, manual work can be minimized, increasing efficiency while reducing manual errors to zero.

With this product, our clients can provide competitive investment and custody services not only in the local but also in the international capital markets. In addition, new SDR legislation and possible new EU directives can be easily implemented due to the flexible process management of the module and the micro-services that serve it.

The winning module is part of Dorsum’s Securities Suite. Learn more about the suite right here:

Securities Bank

Securities Asset

Securities Events

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