Ravi Sawhney, Digiterre Head of Trading Systems at says:
âWe support the Hedge Fund Working Group report, in particular the fact that they are conscious that having a of robust trade confirmations platform is a key factor in effectively managing trade and execution risk. The continued growth in OTC derivatives coupled with the fact that most funds are multi-asset means managing the confirmations lifecycle is a headache for most hedge funds, and certainly one that canât be overlooked.â
â The post-trade problem for hedge funds is something that we have been looking at for some time, marked last year by the successful launch of our dConfirm product.â
In a nutshell, dConfirm allows hedge funds to automate parts of the confirmation lifecycle to produce real-time views on all unconfirmed trades in a few clicks. It is backed by a powerful and highly flexible reporting engine and will later in the year support connectivity to the major electronic confirmation platforms, including Swapswire and DTCC.
The dConfirm dashboard provides Head of Operations and COOâs with a âcockpit viewâ of all confirmation activity including feedback on configurable Key Performance Indicators. In addition, the product gives users the ability to set up human and system workflows, thus enabling financial institutions to stay on top of operational risk compliance.
While it may be generally perceived that funds with low volumes may not warrant the use of electronic matching and confirmation systems, Digiterre has found otherwise:
âWe are even finding that clients who trade a relatively small volumes of OTC products still want to electronically manage the confirmation lifecycle to allow them to producing daily âAgeing Reportsâ, for example. Not only is it fundamental to tracking their operational risk, but also their investors are now placing a strong emphasis on it, which highlights how timely the HFWGâs set of standards really are. â says Sawhney.