Jupiter Asset Management builds ETC and settlement hub with CheckFree

Source: CheckFree Software

Jupiter Asset Management Limited (Jupiter AM) has successfully implemented the CheckFree TradeFlow solution as a centralised straight through processing (STP) hub for electronic trade confirmation (ETC) and settlement.

The new strategic platform will help Jupiter AM improve operational efficiency, manage increased trade volumes and enable business expansion without adding significantly to investment administration costs.
"It is envisaged that the CheckFree TradeFlow solution will help Jupiter AM minimise operational costs and improve efficiency," said Ken Crawford, Director at Jupiter AM. "The implementation of the CheckFree TradeFlow solution will significantly streamline the post-trade confirmation and settlement process so we can focus our resources on those exceptions where a trade confirmation has failed, thus reducing our potential exposure to settlement failures and interest claims. We have successfully migrated a number of disparate systems onto a single scalable platform. As a result, we can continue to grow our business without incurring additional operational costs typically associated with increases in trade volumes."
Jupiter AM manages a broad range of portfolio and instrument types from institutional funds, unit trusts and hedge funds to offshore funds and private clients. Historically, this involved complex semi-automated processes for trade confirmation and settlement. The CheckFree TradeFlow solution is designed to eliminate the need for manual re-keying of data and provides a robust interface to other internal systems such as Jupiter AM's order management and portfolio management systems. It also helps Jupiter AM report on broker confirmations and settlement instruction performance.
Preston Hoffman, senior vice president and general manager, CheckFree Software, said, "We have worked closely with Jupiter Asset Management to assist in the development of a world-class centralised processing platform built on CheckFree TradeFlow. The results from this strategic project validate the business case for other securities organisations looking for a post-trade securities processing solution built on out-of-the-box packaged workflows that quickly delivers real business benefits."

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