Source: CheckFree Corporation
CheckFree Corporation (Nasdaq: CKFR) today launched CheckFree TradeFlow version 2.1, the latest release of its post-trade securities transaction process management solution.
With this new release, CheckFree has built upon its existing cross-border post-trade functionality to provide support for U.S. domestic trade processing.
This gives global securities firms the ability to manage transactions across the enterprise via a single, integrated, straight-through processing (STP) hub.
Designed to manage all transactional and operational activity across multiple geographies and asset classes, the CheckFree TradeFlow solution enables complete post-trade communication for buy side investment managers and asset servicers. The extended solution provides local matching workflows for Depository Trust Company (DTC) confirmations to allow electronic trade matching, confirmation and settlement of U.S. domestic trades within one single integrated STP hub. These enhancements complement the existing allocations workflow within CheckFree TradeFlow offered through connectivity to Omgeo's Oasys service.
CheckFree TradeFlow 2.1 supports equities, fixed income, foreign exchange, forwards, and money market instruments, giving securities firms exceptional pre-packaged functionality for trade confirmation, settlement and exceptions management. The solution connects to SWIFT and Omgeo(SM) gateways, as well as all other industry-standard delivery mechanisms to communicate with brokers and custodians to enhance operational efficiencies.
CheckFree TradeFlow's innovative new Settlement Tracking module makes use of SWIFT's Confirmation of Original Instruction and Settlement Status messages. By integrating this information into the post-trade process, asset managers gain the ability to track trades through to settlement in real time, enabling the proactive identification and resolution of settlement issues. It helps institutions to avoid the costs associated with trade failure by prioritising settlement issues and preventing the financial losses associated with failed trade interest claims.
"With CheckFree TradeFlow's extension to U.S. domestic processing, we have delivered a truly global, end-to-end post-trade securities processing solution designed to give buy side firms enormous efficiency gains, while minimising potential operational risk. Additionally, the new Settlement Tracking module enables operations managers to proactively avoid settlement failures, making
CheckFree TradeFlow a compelling value proposition for asset managers looking for solutions to help safeguard their reputations worldwide," said Preston Hoffman, senior vice president, and general manager of CheckFree Software.
Separately, CheckFree Corporation (Nasdaq: CKFR) today announced that three solutions for corporate actions processing, reconciliation and exception management, and transaction processing have each achieved the highest SWIFTReady accreditation.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the financial industry-owned co-operative supplying secure, standardised messaging services and interface software to 7,800 financial institutions in more than 200 countries.
"CheckFree has once again demonstrated continued investment in its solutions ensuring that they have the quality and adaptability to meet our increasingly stringent criteria," said Allan Spalding, Senior Business Manager, Partner Solutions at SWIFT. "CheckFree has achieved SWIFTReady Gold, the highest level of certification awarded by SWIFT. Each vendor's technology is judged on its ability to provide automation and support of SWIFT standards and Market Practice."
The CheckFree eVent solution, the company's powerful automation and workflow solution for corporate actions processing, has also received the SWIFTReady label for corporate actions for the third successive year.
For the seventh consecutive year, CheckFree's Accurate NXG reconciliation and exception management solution has secured the SWIFTReady Gold label for cash and securities reconciliation. CheckFree's transaction processing solution, CheckFree TradeFlow, received the SWIFTReady Gold 2006 accreditation for financial enterprise application integration (EAI) for the seventh year running. The CheckFree TradeFlow solution enables global securities firms to manage the entire post-trade securities process across multiple departments, instruments and regions in real-time.
"We are honored that SWIFT has granted CheckFree its highest levels of certification," said Bert Harkins, vice president, global strategic marketing, CheckFree Software. "By consistently investing in each of our solutions, CheckFree continues to meet the constantly changing requirements of both our clients and the global financial services industry. Our SWIFT-accredited solutions deliver competitive advantage by driving performance and profitability, reducing operational costs and errors and potentially improving risk management capabilities."