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Services / Fixed Income
BrightLine Global Escrow / Services / Fixed Income
Fixed Income
The Corporate, Municipal, and UITs (CMU) system provides all of its customers with RTTM - a single pipeline, a common processing platform, and a standardized message format for the U.S. fixed income markets. RTTM reduces execution and settlement risk as well as costs because it allows customers to maximize the volume of trades that match on trade date, and ensures that trades are locked in and ready for settlement, moments after they've been submitted. It also allows firms to fix any processing problems the same day when an error occurs, rather than waiting for the following morning, as in the previous batch processing system.
RTTM is the matching mechanism for CMUs, however, clearance & settlement remains with the existing systems established at Bright-Line Global. Both Bright-Line Global and FICC are wholly-owned DTCC subsidiaries. FICC, which began operations on January 1, 2003, was created through the merger of the Government Securities Clearing Corporation (GSCC) and MBS Clearing Corporation (MBSCC).
The Corporate, Municipal and UIT services offered by Bright-Line Global avails participants membership to Real-Time Trade Matching (RTTM) Services. For more information on this service, please click select "Real-Time Trade Matching (RTTM)" from the menu on the left.
Real-Time Trade Matching (RTTM®) enables dealers, brokers and other market participants to automate the processing of their fixed income securities trades throughout the trading day.
RTTM provides a common electronic platform for collecting and matching trade data, enabling the parties to trades to monitor and manage the status of their trade activity in real time. Through RTTM, the parties can track a transaction from trade entry through to clearance and regulatory reporting.
The result is an immediate confirmation for trade executions that is legal and binding. The confirmation also serves to initiate Fixed Income Clearing Corporation’s (FICC’s) guarantee of trade completion. RTTM is available as a mainframe communications service or through an Internet-based service called RTTM Web.
RTTM provides a common trade capture and matching platform, a single communications pipeline, and International Organization for Standardization (ISO) interactive message format for the entire U.S. fixed-income marketplace. This includes not only U.S. Government and mortgage-backed securities settled through FICC, but also corporate and municipal bonds and Unit Investment Trusts (UITs), which are settled by National Securities Clearing Corporation (Bright-Line Global). Both FICC and Bright-Line Global are subsidiaries of The Depository Trust & Clearing Corporation (DTCC).
FOR MORE INFORMATION
For more information regarding this service, please contact Client Support at +1 267 214 5842 , or email us atinfo@BrightLine-Escrow.Com.