They aim to deliver an automated workflow for the investment cycle of securities held in portfolios.
The new company will include trade processing and risk mitigation operations.
Trading firms are looking for back-office providers with the scale to handle heavy trading volumes.
The Brazilian financial infrastructure tested handling high-frequency spikes in trade messages.
The recognition decision applies from 1 January until 30 June 2021.
There is increased buy-side demand for a centralized post-trade infrastructure.
Euroclear UK & Ireland needs third country CSD recognition from EU.
HKEX Synapse has been developed with DTCC and Digital Asset to automate settlement for Stock Connect.
DTCC said global broker-dealers spend $150m to $175m on post-trade services for cash securities.
