Today, AutoRek, the leading software solutions provider for financial controls, data management and regulatory reporting, announces that GKFX, a leading online forex trading broker, has selected AutoRek to deliver CASS automation.
GKFX recognise the requirement to embed a stringent CASS governance and oversight framework given the FCA’s focus to enhance the level of protection afforded to clients. AutoRek will work in conjunction with GKFX’s existing systems, data feeds and operating models to automate both the internal and external client money reconciliations, coupled with the production of the month end Client Money and Asset Return. The software will undertake automatic matching of transactions and flag any true exceptions for immediate investigation by responsible departments to mitigate the risk of incurring regulatory CASS breaches.
Gordon McHarg, CEO of AutoRek, commented on the partnership “We are delighted to add a client of GKFX’s calibre and importance in the FOREX industry to our client base and we are pleased that we have been selected to work with the team on this particular contract. This partnership reinforces AutoRek’s reputation for being the leading provider of an automated CASS solution in the market. We know that we have the people, the solution and the knowledge to deliver above and beyond expectations and are confident that this is the start of a long and prosperous partnership”.
Rod Martenstyn, CFO at GKFX, also commented, “With a changing regulatory landscape ensuring that we continually improve our internal processes to meet the FCA’s CASS regime is at the top of our agenda, therefore selecting AutoRek was the logical choice. We will be working alongside their team to build out the solution utilising their knowledge of CASS and technology to automate our CASS processes.
AutoRek is deployed globally, delivering a range of financial, operational and regulatory reporting control solutions. We have supported implementations in many leading organisations, and deployments have included high volume data migrations, elimination of spreadsheets and manual processing, regulatory reporting, mitigation of operational and regulatory risk, and reduction in fast close processes.
GKFX are a global online trading provider, established in 2010, offering clients a wide range of trading products. We’ve developed an individual service for our clients, giving access to financial markets through industry-leading technology using a wide range of products. Choose from FX, CFDs or Spread betting to trade on a variety of instruments including indices, equities and commodities.