Bank / Credit Union

Iyo Bank to adopt ITP services

September 1, 2022

Iyo Bank Ltd., a bank based in Japan, has announced it will adopt The Depository Trust & Clearing Corp.'s Institution Trade Processing services for post-trade processing for equities and fixed income transactions. With this solution, the bank will be able to deliver quicker transaction settlements, according to a press release.

Iyo Bank in particular selected CTM, ALERT and Settlement Instruction Manager. CTM automates trade confirmation processes for equities and fixed income while ALERT contains a database of 13 million standing settlement and account instructions. Settlement Instruction Manager sends out instructions to custodians and third parties, according to the release.

"We are pleased to partner with DTCC in automating our post-trade processes," Naoaki Fujita, managing executive officer and general manager of Funds Operation and Securities Division, Iyo Bank, said in the release. "With CTM, ALERT and Settlement Instruction Manager, we look forward to further improving our operational risk mitigation capabilities for post-trade processing, while reducing labor resources through the digitalization of manual, inefficient processes. As a result, we hope to enable our team to focus on more strategic areas that drive our business forward."