Standing Settlement Instructions (SSIs) sit at the heart of every successful trade.

Under T+1's compressed timelines, the buffer firms have relied on to detect and correct errors disappears, making the accuracy, completeness and timely availability of SSIs a key enabler of settlement success.

DTCC was joined by the Financial Markets Standards Board (FMSB), BNP Paribas and SSImple for an interactive webinar exploring the critical role of SSIs for T+1 readiness.

We asked all of our panellists:

“What’s the one thing you would urge market participants to do now to improve SSI readiness ahead of October 2027?”

In this session, Mimi Yan from the Financial Markets Standards Board (FMSB) talked to event host, Ben Johnson from DTCC, about the issues surrounding SSIs and what the FMSB has delivered to tackle the problem.

“SSI standardisation is really important. With the limited time you have available under T+1, you need to be sure that what your counterparty understands to be an apple is the same as what you do.”

Mimi Yan, Technical Director, Financial Markets Standards Board

We were joined by James Maher, T+1 Project Lead for Global Markets Operations at BNP Paribas, and DTCC’s Jan Coughlan, to discuss the impact of manual SSI processes in a T+1 environment and why the “manual long tail” persists.

“T+1 is only as strong as the weakest dependency in the settlement cycle. Recent research shows that the market is now awake to T+1, but not yet operationally ready in the areas that matter the most.”

James Maher, T+1 Project Lead for Global Markets Operations, BNP Paribas

In this session, we discussed how industry-wide collaboration is driving change with CEO & Founder of SSImple, Bill Meenaghan.

“For me personally, I think all SSIs should be automated. There shouldn't be any manual sharing of SSIs.”

Bill Meenaghan, CEO & Founder, SSImple