Percival To Deliver DEPEND & HUBBLE To Baltic CSDs
Percival signed an agreement on 19th October to deliver its DEPEND CSD solution to the three Baltic CSDs of Estonia, Latvia, and Lithuania.
The Baltic CSDs will leverage the Percival solution in order to minimize member impact and reduce complexity during the consolidation of the Baltic CSDs and implementations of CSD-R and T2S.
DEPEND is a configurable and highly scalable CSD core system that supports a wide scope of services that include CSD services, trade capture and central registry for T2S and non-T2S, equity and fixed-income instruments, as well as corporate event processing.
Percival will also supply its flexible HUBBLE messaging layer to provide integration between internal services within the Baltic CSDs, as well as providing a common service to participants using ISO messaging. Further, the DEPEND solution will handle cash management, allowing participants to maintain their liquidity accounts directly through the same platform.
The Estonian Central Securities Depository are already customers of Percival and implemented DEPEND at the start of 2011, which allowed them to become only the fifth CSD in Europe to fully meet the ESSF-ECSDA matching standards at the end of March 2012.