Synergy by AccessFintech has launched settlement netting to improve operation efficiency in global fixed income markets.
The new solution supports real-time transparency and collaboration across the post-trade lifecycle by pairing data to improve pre-matching accuracy and reduce fail rates. It also aims to streamline workflows, deliver actionable insights, and resolve exceptions in real time.
Settlement netting builds on Synergy’s data platform, which will enable the normalisation, visualisation, and aggregation of transaction data. It allows participants to net obligations across repos, TBAs, cash transactions and other asset classes, with the goal of improving operational efficiency and liquidity management.
The platform enables automated communication between clients and custodians via API, reducing the need for manual intervention.
JP Morgan contributed to the use case development and provided input and refinement during the design phase with Citi.
“We have partnered very closely with AccessFintech on this collaboration solution as we believe it will transform the smooth operation of the repo market,” said Anthony Fraser, global head of prime financial services operations at JP Morgan. “Integrating JP Morgan’s best-in-class operating model and workflow tools with AccessFintech’s state-of-the-art technology enables us to establish a model of standardisation, transparency and seamless communication. We’re committed to delivering solutions which drive enhanced settlement efficiency and result in better outcomes for our clients.”
The netting programme, initially piloted in the €15 trillion EMEA repo market, matches transaction details centrally across trading counterparties, replacing manual spreadsheet calculations for netting obligations.
It also supports structured counterparty communication through APIs or user interfaces, aiming to improve fail rates, reduce asset movements, and lower transaction costs associated with repo settlements.
Jaime Healy-Waters, global head of cash equity middle office and EMEA cash securities settlements at Citi, said: “We are pleased to bring this important collaboration solution to the repo market with AccessFintech. We remain intensely focused on creating solutions that enhance our clients’ investment performance and success.”
Additionally, the Synergy network uses AI-based tools to generate settlement netting candidates in real time and draws on historical data to inform counterparty behaviours, such as settlement performance and amendment rates.
The Synergy platform captures data across securities, derivatives, alternatives, and payments, supporting data transformation and collaboration among network participants.
Tom Granelli, head of netting product, Synergy at AccessFintech said: “We are continuously driving industry transformation to prepare and strengthen market operations for the future. We remain intensely focused on creating solutions that enhance our clients’ investment performance and success.”
Granelli added: “Settlement Netting is another example of our deployment of the transformative Synergy network, enabling the ecosystem to magnify their operational effectiveness and reduce unnecessary manual processes.”