Salerio, the comprehensive post-trade management system widely used by securities and treasury trading firms, today announced the launch of Salerio Connect.
Salerio Connect has been created for small to medium-sized buy-side firms who want reduced operational risk and lower processing costs per trade to automate their post-trade operations for the first time. Salerio Connect integrates with SWIFT, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, resulting in a package that offers a straightforward, quick to implement messaging connectivity and post trade solution. It combines SWIFT's Alliance Lite2 connectivity with Salerio's processing power in a simple, easy to implement, 'out of the box' application.
Salerio Connect's new approach to software purchase removes the barriers to entry for the many buy-side firms who have to date resisted automation of their post trade operations.
With no initial enterprise licence fee, and no professional service fees payable in advance, Salerio Connect reduces the purchaser's operational and financial risk to deliver real business benefits from day one of its use. Quick and straightforward to deploy, Salerio Connect fits around existing workflows, interfacing directly with order management and portfolio accounting systems.
Like all Salerio applications, Salerio Connect uses proven Straight-To Processing™ to isolate and prioritise exceptions, then delivers only these exceptions to operations teams for proactive intervention. This means processing staff always work on the most important trades - those most likely to lead to mismatch or fail to settle - while the vast majority are processed with no manual intervention whatsoever.
Salerio Connect is engineered to give buy-side firms the business benefits of automation - reduced risk and improved processing efficiency - at the minimum possible initial outlay.
Bruce Hobson, CEO, Salerio, commented, "We know that all investment expenditure these days requires a compelling business case to support it. At the the same time, it is becoming increasingly important for firms of all sizes to take control and automate their post-trade processes in order to minimise risks, lower costs and prepare to comply with ever increasing demands from regulation. We believe that customers will benefit hugely from our cost-efficient software delivery and pricing model. Our 'out of the box' approach requires minimum configuration and is designed to easily integrate with and work alongside incumbent processing capabilities. We are committed to helping more firms benefit from the cost reduction and processing efficiency that automation brings."
Paul Taylor, Director, Global Matching, SWIFT, added, "The combination of SWIFT's Alliance Lite2 connectivity with Salerio technology enables firms of any size to benefit from automation of their back-office operations. This is crucial today, with the pressure on buy and sell sides to reduce numbers of unaffirmed trades in order to control cost and risk, while meeting the requirements of forthcoming regulation such as CSD-R and getting ready for T+2 settlement. Salerio's approach to packaging first time automation for buy side firms opens up the prospect of cost-effective STP to a wider audience, at a time when increasing numbers of brokers are adopting SWIFT's ISO standard Global Electronic Trade Confirmation (GETC) solution in order to streamline the confirmation process with their clients."