SmartStream enters ETC market

SmartStream enters ETC market

SmartStream Technologies is to enter the electronic trade confirmation market with a solution which enables investment managers to create a notification of execution and follow the transaction through the reconciliation lifecycle.

The new module can be fully integrated into SmartStream Reconciliations for existing clients or licensed independently. It supports a range of file formats, including Oasys, Swift and proprietary feeds for inbound and outbound communication.

Darryl Twiggs, SmartStream Technologies' product manager for ETC, says the software was developed in conjunction with a leading European Bank and is now in live production.

He adds: "Key to the development was the inclusion of our distinctive investigations capability enabling the bank to increase STP rates and reduce risk exposure."

The system operates at both the block and allocation level. Following receipt of trade notification, the investment manager’s individual orders can be reconciled with a broker’s block allocation. Assuming all details are correct, an affirmation will automatically be generated to the ETC system. SmartStream ETC can then go on to match at the allocation or individual trade level and for successfully matched transactions it generates an affirmation of the allocated trade to the ETC system and automatically confirms the trade to the custodian so the transaction can be settled. Any broken trades are delivered to the relevant party for repair.

Twiggs says the new ETC package is just one of a number of "focused modules" which SmartStream is developing for the STP market.

Comments: (0)