The asset manager will use Gresham's CTC to reconcile its net asset value (NAV) calculations against the records held by custodians and prime brokers on a daily basis - providing an accurate and timely view of all investments for its London-based business.

"Reconciliation is critical to ensuring accurate positions and correct net asset values," said Bill Blythe, global business development director, Gresham Computing. "CTC will immediately highlight any differences detected in the NAV positions between the firm's internal systems and the records provided by custodians. This will allow operational staff to focus their attention on investigating discrepancies and resolving exceptions, dramatically reducing operational risk. It will also help them to comply with current and future regulatory reporting requirements including EMIR and Dodd Frank."

The asset manager wanted a system that could be rolled out rapidly - automating what was previously quite a labour-intensive process - to provide a speedy return on investment. A proof of concept showed CTC was the best fit for the firm's needs today and in the future as it grows the business.

The implementation process is straightforward and intuitive thanks to CTC's unique on-boarding wizard. The wizard orchestrates the on-boarding of complex (and simple) reconciliations without the need for time-consuming data transformation or manual configuration of schemas, matching rules and dashboards. The asset manager is able to quickly configure reconciliations with a full audit trail and thus mitigate risk. In addition, the firm will have the maximum flexibility to on-board new clients and investments as it continues to expand while also keeping costs low.

With CTC, the asset manager will have the ability to handle additional reconciliation types as required in the future including cash, OTC derivatives and credit default swaps. It will also benefit from easier handling of exceptions and a complete audit trail of all transactions.