A message hub that meets the demands of European T2S for all ISO messages types.
The world’s best Central Securities Depository & Registry.
The world’s most advanced Registry system.
A trading system that supports multiple trading venues.
DEPEND is a central securities depository (CSD) software platform for clearing, settlement, and registry operations in modern capital markets. It is designed for multi-market environments and has been deployed across 9 CSD sites, including two T2S-enabled CSD clients.
Key Deployments
Live in 9 CSD implementations
Used by 2 T2S-connected CSD clients
Deployed in multi-market central securities depository environments
Used by 2 T2S-connected CSD clients
Deployed in multi-market central securities depository environments
Standards & Compliance
DEPEND supports full compliance with global post-trade and financial market infrastructure standards, including:
ISO 15022 / ISO 20022 messaging standards
CPSS principles for financial market infrastructures
IOSCO principles for FMIs
ECSDA matching standards
T2S integration via HUBBLE messaging hub
CPSS principles for financial market infrastructures
IOSCO principles for FMIs
ECSDA matching standards
T2S integration via HUBBLE messaging hub
Core Securities Processing
DEPEND supports full post-trade processing for equity and fixed income securities, including both dematerialised and physical securities depository operations. It enables end-to-end lifecycle management across issuance, custody, and settlement.
Clearing & Settlement
The platform provides advanced clearing and settlement capabilities, supporting BIS settlement models 1–3 with optimisation for high-efficiency post-trade workflows. It includes integrated trade comparison, matching, and settlement processing for capital markets environments.
Registry & Corporate Actions
DEPEND delivers a full suite of central securities depository and registry functions, including:
Comprehensive corporate actions processing
IPO and takeover processing
Employee share and option schemes
Beneficial owner tracking and monitoring
Online shareholder meetings and event management
IPO and takeover processing
Employee share and option schemes
Beneficial owner tracking and monitoring
Online shareholder meetings and event management
Cash & Securities Management
The system supports integrated multi-currency money clearing, including:
RTGS integration
Commercial bank settlement flows
Integrated cash management models
Flexible account structures and configurations
Commercial bank settlement flows
Integrated cash management models
Flexible account structures and configurations
Trading & Post-Trade Operations
Advanced post-trade functionality includes:
Trade comparison and processing
Pledging, blocking, and collateral management
Stock borrowing and lending
Multi-account structure support across markets
Pledging, blocking, and collateral management
Stock borrowing and lending
Multi-account structure support across markets
Integration & Messaging
DEPEND offers seamless integration with financial market infrastructure systems, including:
SWIFT messaging integration
Integration with external CSDs and trading systems
Web-based operational interface
Integration with HUBBLE messaging hub
Integration with external CSDs and trading systems
Web-based operational interface
Integration with HUBBLE messaging hub
Reporting & Administration
The platform includes:
Extensive regulatory and operational reporting
Configurable workflows and business rules
Fully configurable GUI for operational flexibility
Audit-ready data tracking and monitoring
Configurable workflows and business rules
Fully configurable GUI for operational flexibility
Audit-ready data tracking and monitoring
Operational Processing & Automation
DEPEND provides end-to-end automation for post-trade and central securities depository operations, including:
Automated scheduling of processing and operational workflows
Settlement processing across multiple market models
Settlement fails management and resolution workflows
Market claims processing and reconciliation
Corporate event processing and lifecycle management
Real-time reporting, alerts, and regulatory notifications
Settlement processing across multiple market models
Settlement fails management and resolution workflows
Market claims processing and reconciliation
Corporate event processing and lifecycle management
Real-time reporting, alerts, and regulatory notifications
Why choose DEPEND?
DEPEND is a central securities depository software platformdesigned for scalability, configurability, and full post-trade lifecycle coverage.
Comprehensive Functionality
DEPEND provides one of the most complete CSD and post-trade processing feature sets, covering registry, settlement, corporate actions, and reporting within a single platform.
DEPEND provides one of the most complete CSD and post-trade processing feature sets, covering registry, settlement, corporate actions, and reporting within a single platform.
User Experience
It features a modern, configurable graphical user interface (GUI) designed to support operational efficiency and ease of use across different user roles.
It features a modern, configurable graphical user interface (GUI) designed to support operational efficiency and ease of use across different user roles.
Modern Architecture
Built on a modern architecture with continuous evolution since its initial release in 2008, DEPEND is designed for long-term scalability and adaptability in capital markets environments.
Built on a modern architecture with continuous evolution since its initial release in 2008, DEPEND is designed for long-term scalability and adaptability in capital markets environments.
Scalable & Cost-Efficient Platform
The system is built on a scalable .NET architecture, supporting efficient deployment across small, medium, and large-scale market infrastructures.
The system is built on a scalable .NET architecture, supporting efficient deployment across small, medium, and large-scale market infrastructures.
Configurability & Implementation Speed
High configurability, combined with deep domain expertise, enables faster implementation and adaptation to different market requirements.
High configurability, combined with deep domain expertise, enables faster implementation and adaptation to different market requirements.
Continuous Product Development
DEPEND follows a continuous improvement roadmap to ensure alignment with evolving market infrastructure standards and client needs.
DEPEND follows a continuous improvement roadmap to ensure alignment with evolving market infrastructure standards and client needs.
Total Cost of Ownership
The platform is designed to deliver low total cost of ownership (TCO) through consolidation of multiple post-trade functions into a single system.
The platform is designed to deliver low total cost of ownership (TCO) through consolidation of multiple post-trade functions into a single system.
DEPEND is Percival’s latest central securities depository (CSD) software platform, designed for modern post-trade market infrastructure. Built on extensive domain expertise in securities processing, registry systems, and settlement operations, DEPEND provides a highly configurable and scalable CSD solution for evolving capital markets.
The platform has been engineered to support rapid implementation and adaptation to different market and client requirements, including national and regional CSD environments. Its configurable architecture enables institutions to align the system with local regulatory, operational, and settlement needs.
DEPEND is designed for daily operational use across complex environments involving participants, issuers, registrars, and investors, supporting efficient end-to-end post-trade workflows.
For organisations responsible for operating or modernising a central securities depository, DEPEND provides a pathway to enhanced scalability, automation, and regulatory alignment.
Contact us to arrange a demonstration and learn how DEPEND can support the transformation of your post-trade infrastructure and reduce reliance on legacy systems.
Chris Richardson
CEO
