SIA's 10 Building Blocks
The SIA identified 10 factors essential to improving the trade settlement process:
1. Modify internal processes at broker/dealers, asset managers and custodians to ensure compliance with compressed settlement deadlines.
2. Identify and comply with accelerated deadlines for submission of trades to the clearing and settlement systems.
3. Amend the National Securities Clearing Corp.'s (NSCC) trade-guarantee process, so the guarantee is provided on trade date.
4. Report trades to clearing corporations in locked-in format and revise clearing corporations' output.
5. Rewrite Continuous Net Settlement processes at NSCC to enhance speed and efficiency.
6. Reduce reliance on checks and use alternative means of payment, such as automatic debits.
7. Immobilize securities shares prior to conducting transactions.
8. Revise the prospectus delivery rules and procedures for initial public offerings.
9. Develop industry matching utilities and linkages for all asset classes.
10. Standardize reference data and move to standardized industry protocols for broker/dealers, asset managers and custodians.