Wilmington Trust Launches Custodian Messaging; Simplifying Trade Execution

New technology lowers settlement times, improves client experience

WILMINGTON, Del., March 25, 2024 /PRNewswire/ -- Wilmington Trust, a leader in corporate and institutional trust services, today announced it has automated its trade settlement process using the S&P/HIS Markit ClearPar service known as Custodian Marketing.

The new settlement system – used for syndicated bank loan trades – will allow clients' trade information to be processed and settled far more quickly and easily, with fewer opportunities for human errors in manually entering data, in a secure fashion.

"By receiving trade data in a secure electronic format, in addition to the Document Delivery service, this new functionality will reduce turnaround time for trade fundings and settlements while enhancing our overall control environment," said Wilmington Trust's Richard Britt, institutional business line leader for Wilmington Trust's Global Capital Markets CLO division. "The adoption of this technology further supports our mission to leverage technology to improve efficiency, while reducing potential business risk."

The technology provides Wilmington Trust clients, and any counterparties, with clearer digital access to transaction data including settlement dates and amounts. With higher trade volume experienced in the past years, this will mark a significant time saving and security function.

About Wilmington Trust
Wilmington Trust, N.A. provides Corporate and Institutional Services including institutional trust, agency, asset management, retirement plan, agency, asset management, and administrative services for clients who use capital markets financing structures. Wilmington Trust provides direct trust, custody, and fiduciary services for retirement plans, companies, foundations, organizations and financial institutions. 

Wilmington Trust also provides Wealth Advisory services with a wide array of personal trust, financial planning, fiduciary, asset management, and family office solutions designed to help high-net-worth individuals and families grow, preserve, and transfer wealth.

Wilmington Trust maintains offices throughout the United States and internationally in London, Dublin, and Frankfurt. For more information, visit www.WilmingtonTrust.com.

MEDIA CONTACT: Patrick Fitzgibbons, Senior Public Relations Manager, [email protected]

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Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation including, but not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (WTC) operating in Delaware only, Wilmington Trust, N.A. (WTNA), Wilmington Trust Investment Advisors, Inc. (WTIA), Wilmington Funds Management Corporation (WFMC), Wilmington Trust Asset Management, LLC (WTAM), and Wilmington Trust Investment Management, LLC (WTIM). Such services include trustee, custodial, agency, investment management, and other services. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, Member FDIC.

M&T Bank Corporation's European subsidiaries (Wilmington Trust (UK) Limited, Wilmington Trust (London) Limited, Wilmington Trust SP Services (London) Limited, Wilmington Trust SP Services (Dublin) Limited, Wilmington Trust SP Services (Frankfurt) GmbH and Wilmington Trust SAS) provide international corporate and institutional services.

WTIA, WFMC, and WTIM are investment advisers registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply any level of skill or training. Additional Information about WTIA, WFMC, and WTIM is also available on the SEC's website at adviserinfo.sec.gov.
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SOURCE Wilmington Trust