Live on the Synergy network, J.P. Morgan and Citi bring netting solution to €15 trillion EMEA repo market

LONDON, April 28, 2025 (GLOBE NEWSWIRE) -- Synergy, the network driven by data and intelligence by AccessFintech, announces the launch of Settlement Netting, transforming operational efficiency in the fixed income markets. Synergy by AccessFintech captures data from a wide range of asset classes, including securities, derivatives, alternatives, and payments, enabling seamless data transformations across network participants. This solution promotes real-time transparency and cross-market collaboration across the entire post-trade lifecycle, using advanced data pairing to improve pre-matching accuracy and reduce fail rates. Leveraging cloud-native infrastructure, Synergy streamlines workflow processes, generates actionable insights, and resolves exceptions in real time, optimizing post-trade efficiency.

J.P. Morgan and Citi were instrumental in the establishment of the service, with J.P. Morgan contributing to the use case and both Citi and J.P. Morgan providing valuable input and refinement for the solution. An industry working group with key repo market participants has helped to deliver the design of the common data model, market structure considerations, and operational workflow. Initially piloting its netting programme in the €15 trillion EMEA repo market, Synergy’s AI-driven insights and data model centrally matches transaction details across trading counterparties, removes the operationally burdensome spreadsheets currently used to calculate netting obligations, and promotes secure counterparty communication through structured queries via API or UI. This significantly improves fail rates, reduces asset movements, and reduces transaction costs associated with fixed repo settlements. Synergy has also deployed innovative AI-based intelligence – with the ability to generate settlement netting candidates real time – and utilizes historical data to inform counterparty behaviour on data elements such as performance against settlement obligations and amendment rates.

“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 J.P. Morgan. “Integrating J.P. 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 standardization, transparency and seamless communication. We’re committed to delivering solutions which drive enhanced settlement efficiency and result in better outcomes for our clients.”

“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,” said Jaime Healy-Waters, Global Head of Cash Equity Middle Office and EMEA Cash Securities Settlements at Citi.

The launch of Settlement Netting expands AccessFintech’s Synergy platform, enhancing its capability to drive data transparency through advanced normalization, visualization, and seamless access to comprehensive transaction data. Settlement netting also allows Synergy clients to leverage its global data platform to net obligations across repos, TBAs, cash transactions, and other asset classes to increase operational efficiency and maximize liquidity. Synergy is also uniquely positioned to streamline interactions between clients and custodians and eliminate manual intervention by sending instructions via API to custodians.

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. 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.”

About Synergy by AccessFintech

Synergy by AccessFintech is a network driven by data and intelligence that transforms post-trade collaboration. Connecting the global capital markets ecosystem, Synergy integrates buy-side, sell-side, order management systems, and vendors, supporting a growing network of over 250 active members. The platform facilitates real-time data transformation across a wide range of asset classes, including securities, derivatives, alternatives, and payments. Built on modern, cloud-native architecture with an API-first approach, Synergy is designed for scalability and flexibility, offering seamless integration with existing technologies. By leveraging AI-driven insights, Synergy improves operational efficiency, resolves exceptions faster, and reduces manual intervention, driving innovation and value across the financial ecosystem. For further information please go to accessfintech.com or follow us on LinkedIn

Media Contacts

Eterna Partners for AccessFintech

accessfintech@eternapartners.com

+44 (0) 7442 230170

This item of content is a press release from a third party provider who make no warranties or representations in connection with this content and therefore PA can make no warranties in respect of its use.

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