GNI Limited, a leading collateral manager in the UK and international equity and bond markets, and broker of futures and options, forex, and equity derivative products, is seeing large increases in trade volumes across all activities, especially with hedge funds. The firm will use intelliMATCH EP initially to reconcile internal records to external agent banks, custodians, and CREST. IntelliMATCH EP also will be used for the numerous internal system reconciliations that are required to support the transfer of data between key trading, settlement, and general ledger systems.
The firm chose intelliMATCH EP for its ability to handle large volumes of transactions and its reputation as a proven market solution. GNI believes that the user friendly nature of the data import and matching process within intelliMATCH EP will allow the firm to be self-sufficient when expanding the use of the application within the organization.
IntelliMATCH EP also is SWIFTReady Gold certified both for reconciliation of securities and for reconciliation of payments internationally - a big draw for GNI because of the firm’s use of SWIFT messages and their growing international market presence. GNI estimates it will, in the short term, reconcile approximately 20,000 cash events and 20,000 securities events daily. Looking ahead, the firm estimates a significant increase in the number of items that will be reconciled daily, concurrent with the anticipated growth of GNI’s international business.
GNI previously used a number of systems to perform reconciliations. A committee formed of IT, Operations, and Treasury staff was tasked with evaluating a reconciliation system that could be implemented enterprise-wide, handling GNI’s growing number of reconciliation items consistently, while providing user-friendly management reporting.
Mike Nelson, project implementation manager at GNI, commented, "As GNI continues its growth in the international equity and CFD markets, the company needs a suitable reconciliation system. IntelliMATCH EP will help to improve our back-office processing, handle a growing number of trades, and provide transaction lifecycle management in our drive toward even greater straight-through processing.
We view our investment in the SunGard solution as proof of our commitment to providing clients with the most efficient trading and settlement processes. GNI believes strongly that our competitive advantage comes from our significant investment in technology, and the purchase of SunGard’s intelliMATCH EP is an extension of this advantage over our competitors."
Lane Savage, president of SunGard eProcess Intelligence, remarked, "We are pleased to welcome GNI Limited to our diverse client base and look forward to providing the firm with a robust and scalable solution to complement their growing business. The addition of GNI to our prestigious list of clients underlines the flexibility of our solutions, and, once again, highlights that intelliMATCH EP is a good fit in the wealth management arena for brokers and asset managers alike."
