CheckFree Corporation (Nasdaq: CKFR) today launched CheckFree TradeFlow(tm) version 2.1, the latest release of its post-trade securities transaction process management solution. With this new release, CheckFree has built upon its existing cross-border post-trade functionality to provide support for U.S. domestic trade processing. This gives global securities firms the ability to manage transactions across the enterprise via a single, integrated, straight-through processing (STP) hub.
Designed to manage all transactional and operational activity across multiple geographies and asset classes, the CheckFree TradeFlow solution enables complete post-trade communication for buy side investment managers and asset servicers. The extended solution provides local matching workflows for Depository Trust Company (DTC) confirmations to allow electronic trade matching, confirmation and settlement of U.S domestic trades within one single integrated STP hub. These enhancements complement the existing allocations workflow within CheckFree TradeFlow offered through connectivity to Omgeo's Oasys service.
CheckFree TradeFlow 2.1 supports equities, fixed income, foreign exchange, forwards, and money market instruments, giving securities firms exceptional pre-packaged functionality for trade confirmation, settlement and exceptions management. The solution connects to SWIFT and Omgeo gateways as well as all other industry-standard delivery mechanisms to communicate with brokers and custodians to enhance operational efficiencies.
CheckFree TradeFlow's innovative new Settlement Tracking module makes use of SWIFT's Confirmation of Original Instruction and Settlement Status messages. By integrating this information into the post-trade process, asset managers gain the ability to track trades through to settlement in real time, enabling the proactive identification and resolution of settlement issues. It helps institutions to avoid the costs associated with trade failure by prioritising settlement issues and preventing the financial losses associated with failed trade interest claims.
"With CheckFree TradeFlow's extension to U.S. domestic processing, we have delivered a truly global, end-to-end post-trade securities processing solution designed to give buy side firms enormous efficiency gains, while minimising potential operational risk. Additionally, the new Settlement Tracking module enables operations managers to proactively avoid settlement failures, making CheckFree TradeFlow a compelling value proposition for asset managers looking for solutions to help safeguard their reputations worldwide," said Preston Hoffman, senior vice president, and general manager of CheckFree Software.
The CheckFree TradeFlow solution is designed to allow organisations to efficiently manage, monitor and measure the flow of securities and cash transactions across the enterprise and through counterparties and settlement agents, while minimising operational risk and increasing operational efficiencies.