20 October 2017

Jefferies & Company selects Accurate for cash and securities reconciliation

11 October 2004  |  3357 views  |  0 Accurate Software

Jefferies & Company, the New York-based investment bank and institutional securities firm, has selected Accurate Software's Operational Risk Management system to improve the automation of its reconciliation and exception management processes across its international offices.

Jefferies says it is deploying Accurate NXG with the aim of increasing operational efficiency, reducing exposure to risk and meeting industry regulations such as Sarbanes-Oxley and Basel II.

The firm is using the software to automate the processing of its cash and securities reconciliations and reduce risk exposure. The company has two main trading offices in New York and London, and wants to consolidate its existing regional systems to create one global reconciliation platform at its operations centre in New Jersey.

The first phase of implementation will focus on improving automation of processes at the New Jersey office, in particular the reconciliation of books and records with statements from Jefferies' custodian bank. The second phase will involve automating the reconciliation of suspense accounts and Euroclear cash statements and positions.

Alfred R. Petrillo, senior vice president, Jefferies & Company, says: "We believe Accurate NXG will be a valuable asset over and above helping us to comply with industry regulations. The expected efficiency gains will significantly impact our work practices and ultimately improve processing efficiency."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

National Bank Financial licenses Accurate operational risk software

National Bank Financial licenses Accurate operational risk software

03 August 2004  |  3207 views  |  0 comments
Caixa Catalunya deploys Accurate NXG for reconciliations

Caixa Catalunya deploys Accurate NXG for reconciliations

05 April 2004  |  3523 views  |  0 comments
SunGard to link Jefferies' NY and London trading desks

SunGard to link Jefferies' NY and London trading desks

10 December 2001  |  3437 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comRegister now

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15974 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9066 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7218 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6639 views comments | 18 tweets | 25 linkedin

Featured job

Find your next job