European Credit Management (ECM) has grown significantly over the past several years, with assets under management that currently exceed â¬18 billion. As it continues to grow and add new asset classes, the organization needed a reconciliation tool that could handle rising volumes and support a range of different, and in some cases complex, securities on a single platform. ECM chose intelliMATCH for its ability to manage asset classes, including the key fixed income asset classes managed by ECM: corporate bonds, CDS, bank capital, asset backed securities, emerging market debt and leveraged loans. intelliMATCH also met the organizationâs requirement for scalability to support volume increases as the business continues to grow.
âIn addition to flexibility and scalability, one of the key differentiators that influenced our selection of SunGardâs intelliMATCH was the solutionâs ability to help ECMâs fund administrators to access relevant portfolios and funds via the Web,â commented Rob Galione, head of operations, European Credit Management.
ECM will use intelliMATCH to reconcile cash positions across its fixed income portfolios from its accounting and settlements systems with its prime brokers and custodians. The intelliMATCH Dashboard will provide ECM with a real-time view of its matching and reconciliation operations, for managers and users, quickly identifying breaks and exceptions to help reduce operational risk.
Tom King, president of SunGardâs STeP business unit, commented, âThe addition of European Credit Management to our growing community of asset and investment managers highlights the industryâs trend toward automation. We look forward to working with ECM and other buy-side institutions to help streamline their transaction management processes and help them reduce operational and financial risk.â