Millennium CSD

Millennium CSD provides Depository facilities for securities trading in a scripless environment. The system can be operated as a standalone module or can be integrated with any trading system. It can process transactions in real-time or in batch mode. Organizations moving towards straight-through processing can integrate in real-time with their Automated Trading Systems. Millennium CSD provides a secure electronic environment for the safekeeping of securities and the transfer of ownership pursuant to trading.

The Millennium CSD product is totally parameter driven, enabling organizations to dynamically model changing business rules. This helps organizations manage change effectively and leverage this capacity for change management to their advantage. The architecture is based on an object oriented/relational database model with browser-based front ends.

Millennium CSD is a technically enriched product which supports any type of organization, whether it is to dematerialize or immobilize securities, allowing holdings to be considered at participant level or at investor level or a combination of both. In addition, Millennium CSD is compliant with the G30 recommendations, the de-facto standard for CSDs.


Millennium Clearing

Millennium Clearing ensures fast and secure transaction processing for clearing and settlement of any type of securities. The product can be operated as a standalone module or can be integrated with any trading platform and can process transactions in real-time or in batch mode. The system is fully parameter driven to allow for rapid customization of the product to suit each client’s best business practices. It can also integrate in real-time to risk management systems.

It accepts user-definable standard settlement instructions and checks the clearing member positions before settlement, to direct trades to specific models (Central Counter Party (CCP) Model, Delivery Vs. Payment (DVP) Model, Straight Through Processing (STP) Model) or settlement cycles (T+0 to T+X) based on the counter party.

The Millennium Clearing product maintains the position of each client (across multiple brokers), client account per broker firm, broker firm and per clearing firm – against each product. It is also possible to define position limits per product, which can be compared against their actual position to generate real-time alerts to Operations/Market Monitoring users.


Millennium Gateway

The fragmentation of liquidity globally and rapidly changing market dynamics has made connectivity to multiple execution venues and other supporting systems an absolute necessity. In these conditions, the interfaces that enable this connectivity should be not only of low latency and high throughput but also need to be flexible and easily deployable. The Millennium Gateway product has been designed to achieve this objective.

Millennium Gateway is a configurable, low latency, high throughput messaging protocol conversion and event model mapping platform.

The pluggable protocol interface of the product provides a means to define different input and output protocols while MillenniumIT’s patented BID technology, enables quick and easy deployment of gateways to suit varying interface needs. Together these help accommodate new messaging protocols with a faster time to market.