The London Stock Exchange today announced the launch of the UnaVista Broker Matching Utility (BMU), a new service for the central matching of post-trade data across prime brokers, executing brokers and hedge funds.
The BMU service runs on UnaVista, the London Stock Exchange's web-based matching, reconciliation and data integration service hosted at the Exchange's data centre.
In a market where matching is often manual and the complexity of system integration is a barrier to automation, the UnaVista BMU provides industry participants with a powerful central matching service that is flexible and fast to implement. The BMU extends further the functionality of the Exchange's UnaVista platform, which already provides many matching and reconciliation services for tier one investment banks.
Features of the UnaVista BMU include:
- Central matching of post-trade data across prime brokers, executing brokers and hedge funds
- Exception monitoring through a browser-based dashboard
- Simple and fast integration to other systems
- Independence from specific data formats with the ability to handle multiple data standards
- Security of the Exchange's data centre
Commenting on the new service, David Lester, Chief Information Officer at the London Stock Exchange, said: "The UnaVista Broker Matching Utility represents another step in our goal to bring efficiencies to the market. It gives those responsible for post-trade processing of trades a quick and simple method for automating matching processes. UnaVista removes the need for large scale implementation projects which are traditionally associated with legacy matching and reconciliation systems."
The UnaVista BMU will launch its pilot service this month. The full service will be available to prime brokers, executing brokers and hedge funds from Q4 2008.