Pirum has upgraded its real-time pending pre-matching service so that users are now able to identify issues more quickly after the loan or return is booked.

Now issues are able to be identified minutes after booking, which Pirum says will lead to reduced fails and improved settlement times. 

The service allows users to easily pre-match new loans, returns, collateral and repos across all asset classes.

"With regulatory changes such as CSDR imposing increased costs of failed settlements, coupled with the implementation of shortened settlement cycles across Europe as a result of the T2S roll-out, timely pre-matching becomes critical," the Pirum release stated.

The enhancement of the Real-Time Pending compare service the firm says, will enable Pirum clients to manage mismatches on their transactions prior to settlement with the ability to prioritise these on a number of key criteria such as trade value, quantity and settlement date.