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SIDE (Securities Industry Data Exchange Inc.) and InteliClear LLC have announced a strategic technology agreement to expand global post-trade capabilities, initially focusing on North America. This partnership aims to address the inefficiencies and high costs associated with post-trade processing and reporting in the financial industry.
Here’s a breakdown of the key aspects of the agreement:
* Acquisition of Rights: SIDE has acquired the exclusive rights to InteliClear’s U.S. back-office dealer books of records software for use in the Canadian market.
* Canadian Market Focus: SIDE will modify InteliClear’s software to meet Canadian market requirements and integrate it with SIDE’s existing mid-office platform. This is a significant step towards modernizing post-trade operations in Canada, providing a more advanced and efficient solution for Canadian customers, offered by a Canadian company.
* InteliClear’s Role: InteliClear will provide support to SIDE during the transition of the U.S. software base into SIDE’s Canadian Market Infrastructure and will remain closely involved in the implementation process.
* Future Expansion: Beyond the Canadian expansion, SIDE and InteliClear are also discussing the integration of their platforms to introduce new functionality to the U.S. marketplace.
* Addressing Industry Needs: This collaboration comes at a critical time when market participants globally are demanding faster, more transparent, and cost-effective infrastructure for trading, clearance, and settlement of both traditional and non-traditional financial assets. The partnership aims to offer a modern, scalable solution that empowers global financial service firms with agility, regulatory alignment, and future-ready technology, with the potential for expansion into other global markets.
SIDE’s Role in Post-Trade Technology:
SIDE focuses on modernizing mid-office platforms and integrating various components of the post-trade lifecycle. By acquiring and adapting InteliClear’s back-office technology, SIDE is looking to create a more comprehensive and seamless post-trade solution.
InteliClear’s Specialization:
InteliClear specializes in providing comprehensive, real-time post-trade solutions (PTS) for the securities brokerage industry. Their system is designed for efficient trade processing, encompassing front, middle, and back-office operations within a single, integrated system. This includes features for customer accounting, margin accounting, broker/streetside processing (like purchase and sales, corporate actions), and general ledger accounting. InteliClear’s solutions are known for their scalability, robust risk management, and straight-through processing (STP) capabilities.
Benefits of the Partnership:
The collaboration is expected to bring several benefits, including:
* Enhanced efficiency and cost savings: By streamlining workflows and reducing manual errors.
* Improved scalability: Adapting to growing businesses without costly hardware upgrades.
* Robust risk management: Real-time insights into account exposure and margin requirements.
* Regulatory alignment: Ensuring compliance with diverse jurisdictional requirements.
* Future-ready technology: Addressing the evolving needs of the financial markets, including the handling of traditional and non-traditional assets.
* Consolidated solutions: Replacing fragmented legacy systems with integrated platforms.
This strategic agreement highlights a broader trend in the financial industry towards modernizing post-trade infrastructure through technological advancements, including cloud-based systems, AI, and potentially distributed ledger technology.

Video courtesy of IPO-VID In Patrick’s Opinion

Video courtesy of IPO-VID In Patrick’s Opinion