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New technology increases operational efficiency and improves clients’ experience
WILMINGTON, DEL. – March 25, 2024 – Wilmington Trust, a leader in CLO Trustee & Loan Administration services, today announced the adoption of Custodian Services Messaging in partnership with S&P ClearPar Custodian Services to automate trade settlement.
Custodian Messaging – used primarily for syndicated bank loan trades – transmits real-time electronic client trade information to Wilmington Trust for processing and settlement on behalf of its clients. Most importantly, it eliminates the need for manual intervention for trade related wire processing.
“By receiving trade data in a secure electronic format, in addition to Document Delivery, this new functionality will reduce turnaround time for processing 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 service further supports our mission to leverage technology to reduce potential business risk.”
Wilmington Trust’s CLO Division provides a comprehensive suite of CLO Trustee, ABL Administration, and Loan Administration services for both liquid and private credit market participants. The team consists of professionals with buyside, loan agency, system architecture, and trustee experience working collaboratively to provide a customized approach to servicing the evolving needs of our clients. Contact us to learn more about the platform.
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 worldwide 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, Pfitzgibbons@mtb.com
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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.
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