Post-trade processes, with their layers of legacy technology systems, infrastructures and workflows, are currently complex and inefficient. They are costly, too, with billions of dollars now spent by the financial industry on trade processing. The need to cut overheads, improve profitability and establish greater operational resilience is making increased efficiency in this area more imperative than ever.
Tier one global institutions have worked with SmartStream to de-silo their operations and reduce the number of systems involved in trading processes. Drawing on past experience, SmartStream has created TLM® Aurora Trade Process Control to provide this technology and expertise to both sell-side firms and to buy-side participants such as asset managers, fund managers, private banks, hedge funds and fund administrators.
The solution delivers a powerful control layer, which rapidly integrates with in-house and third-party applications, utilities and services. It consolidates reconciliation, exception management and process flows into a single application, capable of handling a broad range of asset classes including equities, fixed income, foreign exchange and money markets.
Highly scalable and flexible, Trade Process Control addresses post-trade allocation, confirmation, clearing and settlement needs, automating the transaction lifecycle across the entire middle- and back-office from the point of execution through to settlement confirmation.
A packaged solution that incorporates industry best practice in predefined business processes, Trade Process Control creates a volume-insensitive, instrument-agnostic post-trade environment. It ensures that processing is carried out only with verified and checked data, allowing exceptions to be picked up and resolved as early as possible, and preventing them from occurring again downstream.
Enabling firms to break away from rigid and inefficient ways of working, the solution allows users to be assigned to assets, markets and counter-parties instead of splitting the control function into the traditional middle and back-office silos. It is also flexible enough to cope with market volatility and regulatory demands.