CMC Markets implements reconciliation tech from Gresham
30 April 2014 | 3181 views | 0
Source: Gresham Software
Gresham Computing plc today announced that CMC Markets, one of the leading providers of financial spread betting and CFD trading, is implementing Gresham's Clareti Transaction Control solution (CTC) to automate the reconciliation of cash movements across its global operations.
CTC is being deployed across the firm's Nostro Reconciliation teams in the UK and Australia.
Gresham CTC gives CMC Markets increased flexibility, scalability and the ability to quickly on-board reconciliations for new instruments and transaction types. CMC Markets was looking for an innovative solution, which it could deploy globally, and which would scale easily as its business grows.
By reconciling cash movements across all areas of CMC Markets' business, including spread betting, CFD and forex transactions, CTC will immediately highlight any discrepancies that occur helping CMC Markets to minimise operational risk and benefit from real-time financial certainty.
"As part of our commitment to innovation and providing the highest level of customer service, we look to partner with organisations who take a similar approach in their business. Gresham's CTC solution really stood out for its ability to deploy new reconciliations quickly and cost effectively. The Gresham team understood our needs from the outset and is working closely with us to help us gain maximum benefit from the roll out of CTC including enhanced governance and control," said David Worsfold, Head of Operations for CMC Markets.
Thanks to CTC's unique on-boarding wizard, CTC Onboarding Accelerator, the implementation at CMC Markets will be straightforward and intuitive. CTC Accelerator orchestrates the on-boarding of all reconciliations without the need for time-consuming data transformation or manual configuration of schemas, matching rules and dashboards. This will allow CMC Markets to rapidly configure new reconciliations as required.
"CMC Markets is widely recognised as an innovator in the spread betting and CFD trading arena and recognises the benefits the latest technology can bring as it expands its business. As the volume of transactions it handles continue to grow, it's essential that CMC Markets can reconcile its cash positions in real time and achieve real-time financial certainty across its entire portfolio," said Bill Blythe, Global Business Development Director, Gresham Computing.