Electra’s mission is to help investment managers, hedge funds, fund administrators and outsourced service providers mitigate the risk, cost and inefficiency across post-trade processing and improve their business operations for greater growth and profitability. We achieve this by delivering powerful post-trade solutions and complete, timely and accurate data that support and improve reconciliation and various middle- and back-office processes across the firm’s operational ecosystem.
Electra provides intelligent post-trade operations workflow and data solutions and managed services for reconciliation, trade matching, settlement and fee billing to global buy-side investment managers and service providers to reduce risk, improve efficiencies, and enhance counterparty and investor experiences.
Electra provides data, innovation and services to transform the buy-side’s post-trade operations, enabling firms to deliver a simplified client experience, achieve an efficient and accurate post-trade operations with reduced risk, cost and complexity, and improve transparency and counterparty relationships. We empower investment managers to:
– Eliminate manual, labor-intensive and redundant processes across the entire post-trade cycle
– Improve efficiency, accuracy and transparency across their entire reconciliation landscape
– Solve multiple data, transaction, process and billing challenges throughout the middle and back offices
– Get more data and extend access and value across different functional roles
– Improve client service and revenue flow with faster and more accurate fee billing and payments
With 100% of our focus on the investment management industry, Electra is uniquely able to deliver these results due to our:
– Unmatched depth of knowledge of buy-side post-trade operations
– Proprietary technologies that raise industry standards in research and investigations on exceptions, client fee billing, as well as data connectivity and transparency
– Patented technology which intelligently integrates cash balances, transaction activity and positions data within one holistic workflow
– Unparalleled breadth and depth of aggregated and validated data at the center of middle- and back-office functions
– Integrated views of information help increase transparency across multiple post-trade processes and workflows
– Flexible solutions with rich functionality and configuration to meet firms’ evolving business needs
Electra was founded in 1992 by current CEO John Landry as a provider of consulting services to the investment management industry. Through this consulting work, Mr. Landry identified a market need for a post-trade automation solution for custodian trade and client notifications, confirms/affirms and settlement instructions.
Electra Settlements became the first of several products the company developed and sold to other investment managers for post-trade processing. With the subsequent creation of solutions for Reconciliation, Data Aggregation, Trade Fail Management, and Client Fee Billing, the company’s solutions are now used by more than 180 asset managers, hedge funds, fund administrators and outsourced service providers across the globe.
Electra Reconciliation was introduced in 1996 as the buy side’s need for more automation in post-trade operations increased. Built from the bottom up from within the buy-side industry and for the institutional investment manager, Electra Reconciliation is a centralized solution for managing all reconciliation processes across the middle and back offices.
In 1999, Electra launched a comprehensive reconciliation data catalog which included multiple data types beyond just standard positions, transactions and cash. This achievement made Electra the only vendor at the time to integrate research data to help expedite the investigations’ process (patent pending). Electra coupled its reconciliation data catalog with specific features built for investment management, including NAV, intraday and internal source reconciliation; reconstruction of previous month-end cash reconciliation; and pending trade break suspension.
Soon after the initial launch of Electra Reconciliation, the company introduced Electra Data to automate the aggregation of securities and cash position and transaction data, and help automate the Electra Reconciliation workflow tool. Today, Electra collects more than 3,300 unique, direct data feeds from over 1,300 global custodians, prime brokers, broker/dealers, subadvisors, fund administrators, counterparties and other financial institutions for asset managers to use in their reconciliation, settlement and other post-trade processes.
Key milestones for Electra Reconciliation include the following:
– Moved from a proprietary database to SQL in 2005
– Launched a SaaS version in 2010
– Released unique workflow technology in 2012 that intelligently integrates cash balances, transaction activity and positions data
– Was granted a patent for its intelligent integration capability in 2017
– Launched a Managed Services offering for reconciliation in 2017
– Released a new and improved user Electra Data dashboard in 2019
Electra FailSafe was developed in 2011 as a web-based system that simplifies failed trade management by uniquely identifying pending-unmatched trades and highlighting trades at risk of failing and exposing fail trades. FailSafe later became part of Electra Reconciliations in order to more tightly integrate exception management and fails trade management processes. In 2012, Electra acquired a client fee billing application from Legg Mason. Renamed Electra Billing, the system is an integrated workflow-based client fee billing and revenue management solution that improves the speed and accuracy of invoices, cash flow and client service while reducing risk.
Electra’s key innovations and accomplishments include:
– First vendor to introduce research into the reconciliation process using machine learning
– Patented a capability that integrates all facets of a reconciliation – positions, transactions and cash – within one intelligent workflow
– Integrated data and solutions across multiple touch points, from trading desks to banks/custodians
– Developed proprietary billing application algorithms supporting complex fee schedules and faster, more accurate invoice processing
– Won (and continues to win) multiple awards from FTF News, Waters, and Buy-Side Technology
Completely devoted to the specific needs of asset managers, Electra is driven by the principle that efficient and error-free middle- and back-office processing is critical to the success of buy-side firms and their counterparties. Our software solutions, data and managed services empower investment managers to streamline and accurately reconcile, match and settle trades, access more data, and manage client service, billing and revenue.
Using our patented intelligent integration, machine learning and proprietary algorithms, global institutional investment managers, hedge funds, fund administrators and outsourced service providers can successfully mitigate the cost, complexity and risk of errors and delays – as well as significantly increase staff productivity by fostering greater collaboration, communication and transparency between departments.
To empower asset managers to strengthen their focus on strategic initiatives, competitive differentiators and exceptional client experiences across their post-trade operations.
To mitigate the risk, complexity, cost and unproductive tasks from asset managers’ reconciliation, exception and trade management, settlement, and client fee billing processes.
To help investment managers quickly and consistently overcome the competitive, regulatory and fiscal challenges of reconciling, matching and settling trades, and managing post-trade data.
John Landry, Founder and CEO
Jeff Alpher, Chief Technology Officer
Scott Rhodes, Chief Operations Officer
Robert Cohen, Chief Revenue Officer
Ian Danic, Executive Director
Jennifer McMackin, SVP Data Services
Paul Chung, SVP Client Services