Clearing and settlement are the final stages of financial trading, where the transfer of funds and assets between buyers and sellers occurs. Effective clearing ensures that trades are confirmed, validated, and processed accurately, while settlement finalizes the transaction by transferring assets. Without streamlined processes, financial institutions face delayed transactions, increased costs, and the risk of non-compliance. For the Singapore market, known for its robust financial regulations and competitive financial services sector, having a reliable clearing and settlement framework is crucial.