Electra Information Systems (Electra), the largest aggregator of investment accounting data for the asset management industry, today announced it has been nominated by FTF News in the “Best Data Management Solution” category in the 2017 FTF News Technology Innovation Awards.
The nomination was awarded for Electra Data, a complete source for accurate, reliable data that provides consolidated securities, cash, position and transaction information from over 2,300 feeds from custodians, prime brokers, broker/dealers, subadvisors, counterparties and other financial institutions. This solution is a comprehensive service that manages the complete process of locating account data, establishing and maintaining feeds and relationships, daily data acquisition, format and content transformation and enrichment, change management and disaster recovery.
Electra Data collects information from any source at any frequency, regardless of format and protocol – including any and all asset types – then consolidates, normalizes, reformats and enriches data, and delivers it over a secure network.
Electra Data, with its powerful data validation and transformation engine, supports automation of reconciliation, performance, compliance and fee billing. Additionally, it is used for other specialized purposes including sharing of investment modelling data.
Coupled with Electra Reconciliation (also nominated for an 2017 FTF News Technology Innovation Award), Electra Data provides a seamless solution for automating investment management reconciliation. Electra Data is also used to support other vendor systems and data can be produced in any format to feed downstream solutions.
“Because Electra establishes its own feeds with custodians, prime brokers, subadvisors and our clients’ trade counterparties, no sharing of client login credentials is required,” said Ian Danic, Executive Director, Electra. “Since Electra feeds carry only electronic data, data quality is unsurpassed, unlike services which feature screen scraping and character recognition technologies.”
Subscribers of Electra Data include institutional investment managers, hedge funds, fund administrators, outsourcing providers, custodians, plan sponsors, insurance companies and software vendors. The service typically replaces in-house data collection and eliminates reliance on key individuals to obtain mission critical information. Electra Data also replaces less secure services which provide less reliable data.
Electra Data volume has grown 30% over the past year and $20T in assets are now communicated daily.
Electra Information Systems is an award winning innovative provider of proven post-trade software solutions for the asset management industry. The largest buy-side aggregator of investment accounting data, Electra is relied upon by institutional investment managers, hedge funds, insurance companies and plan sponsors for their data management command and expertise.
Electra partners with clients, which include more than 200 users in 11 countries and a third of the top 50 and top 200 asset managers, helping them significantly increase efficiency and reduce risk. With decades of collective subject-matter expertise, Electra is a specialized one-stop-source for post-trade processing solutions.
The purpose of FTF News Technology Innovation Awards is to celebrate and recognize the professionals, financial technology vendors, service providers, industry bodies and regulators that have made significant strides and noteworthy achievements in operational excellence during 2016.