CheckFree adds OTC derivatives processing to TradeFlow

CheckFree adds OTC derivatives processing to TradeFlow

US fintech vendor CheckFree has added an over-the-counter (OTC) derivatives processing module to its post-trade securities processing system, TradeFlow.

Specifically designed for connectivity and post trade processing over the DTCC Deriv/SERV central matching system, the latest version of TradeFlow can automate the confirmation process and associated payment messages over Swift to enable "robust and scalable derivatives confirmation and settlement processing".

CheckFree TradeFlow 2.2 can provide operational process improvements, including pre-packaged industry standard workflows for confirmation and settlement of OTC derivatives, says the Atlanta-based vendor. The system is designed to make a single, post-trade process possible and to allow all asset classes and exceptions to be managed in a single application.

"By managing the post-trade process across all asset classes, CheckFree TradeFlow enables clients to control spiralling operational costs," says Geoff Harries, director of securities product management, CheckFree. "To address current and projected OTC volumes, a global asset management firm has already purchased the new CheckFree TradeFlow OTC module to reduce the manual processing it has endured in the confirmations process."

UK core banking systems vendor Misys recently added a confirmation matching module for OTC Derivatives to its Treasury Plus system.

The new module provides a single window for both the buy side and sell side to confirm OTC derivatives and commodities transactions. A confirmation process that normally takes three to ten days can be reduced to less than 24 hours, claims Misys.

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