Mexico’s central securities depository (CSD), Indeval, has improved the trade settlement process by using IBM software, Finextra reports. The move has lowered the amount of cash that banks must have on hand to cover trades by 52% and saved Mexican banks more than $240 million in interest in 18 months.
The usage of IBM’s decision automation and advanced analytics software, Dali, has settled over $250 billion in securities per day that is one fifth of Mexico’s gross domestic product in near real time. Indeval is assisting in mitigating the risk involved in transactions settlement and is diverting the worst effects of the systemic crisis.
Click here for the story from Finextra.