Netik has launched a low-cost matching and securities reconciliation module as part of its flagship InterView investment and accounting hub product.
Targeted at fund administrators, prime brokers, global asset managers and custodians, Netik InterMatch release 2.0 provides generic matching and reconciliation, feeding exceptions into a common browser application for resolution processing. Matching scenarios include multi-sourced reference data cleansing with the ability to construct a 'golden copy' for onward distribution throughout the enterprise.
Originally developed over two-and-a-half years ago to handle central trade matching under T+1, the product is now being priced as an entry-level component for Netik's InterView data management portal.
Colin Close, Netik CIO, says a few years ago InterMatch would have come with a price tag of close to $200,000. "Operations managers today would find it difficult to show an attractive ROI with pricing at such a level," he says. Instead, the firm is pricing the product at $20K as part of a foot-in-the-door sales strategy for InterView v7.0.
Close says Netik sees the matching and reconciliation function as a mere component of the larger data management discipline that is handled within Netik InterView's Data Portal.
"As important as it is to get it right, it is also important to see matching and reconciliation in its' proper context as part of this larger data management picture and in this respect the function is commoditised."
The firm is currently in discussion with a number of niche software and consulting companies about stand-alone InterMatch sales or software library componentisation.