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SmartStream launches DClear Utilities to lower cost-per-trade through shared data and trade processing services

SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced the launch of DClear Utilities, a new division providing shared data and trade processing utilities for the financial services community.

DClear will deliver centralised processing of financial instruments across their entire lifecycle through an on demand style platform, enabling clients to benefit from a shared service centre model for common processing services. By consolidating functions such as confirmations matching, order/trade matching and position management into a single entity, DClear’s Utilities will deliver greater transaction visibility, lowering operational risk and reducing the cost-per-trade.

The DClear Reference Data Management Utility is the first such utility to be launched and has already signed its first customer, based in the United States. It will aggregate, reconcile and monitor the agreed aspects of clients’ reference data at an individual data field level, providing integration and cleansing of data sources, with rules-based processing providing integrity checks on all incoming data. As a result the utility will ensure fewer trade breaks by providing clean and consistent data, integrated across all assets, entities and instructions.

John Mason, CEO, DClear Utilities, commented: “In the current financial market of decreasing margins and volume volatility, the need to reduce transaction costs through more efficient back office processes that reduce trade breaks and increase risk controls has become even more urgent. We see that pressure is driving the trend towards the standardisation of systems and processes that offer no strategic differentiation yet consume vast amounts of time, effort and money. The DClear model based around the shared, standardised delivery of commoditised functions for back office processing and a centralised repository of standardised data delivers significant risk mitigation and reduces operational cost.”

Philippe Chambadal, CEO of SmartStream Technologies, said: “DClear’s industry Utilities can create a network effect by demonstrating to all market participants that using the same reference data and reconciliation and exception management processes will significantly reduce risk and cost. By taking a co-operative approach among market participants to solve a common problem these Utilities deliver the economies of scale that benefit all participants, initially for reference data and then for more generic back office processing.”