Financial Tradeware, provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for investment managers, fund managers and hedge funds, today announced the availability of the new Reconciliation Module automated via SWIFT.
As investment in both traditional and evolving market sectors broadens, the pressure on fund managers and hedge funds to both identify and control the multitude of assets held by their clients has never been greater. In addition to dematerialisation in the equities and bonds markets, and new regulation and legislation requirements, which will fundamentally change reporting requirements and protection for investors, this places more emphasis on automating the process of trade reconciliation.
To meet the growing and sophisticated demands of users, Financial Tradeware has developed a reconciliation tool for Investment Managers and Hedge Funds, enabling them to complete automatic reconciliations with their custodians, including CREST, via SWIFT. The Ultra.net and H-Fund Reconciliation module:
- can be integrated with the Ultra.net and H-FUND solutions or stand-alone
- automated or on demand multi custodian reconciliation of securities holdings and cash via SWIFT
- multi custodian real time reconciliation, including CREST
- generates real-time exception reporting
- uses of standard SWIFT messages (MT535) and both ISO15022/20022 formats;
- provides valued information on cleared positions
- offers independence and choice for smaller users
As part of the overall offering to the investment management and hedge fund users, Financial Tradeware provides SWIFT connectivity for regulated and unregulated entities through its accredited service offerings (EGP/Financial Tradeware Member Concentrator and EGP/Financial Tradeware MA-CUG). Using the automated, S-Messenger application, users can interconnect systems and transport and transform messages, interface to internal ledgers and external systems. Its adherence to ISO15022, 20022 and handling of FIX and SWIFT FIN messaging make it an ideal component to complement the reconciliation process in all its formats.
Alberto Fontana, Managing Director, Financial Tradeware comments "The evolving market in which we operate demonstrates that there will always be a need to refine and add functionalities to our solutions in order to meet evolving client demands. The modularity of our Ultra.net and H-FUND solutions offers just the flexibility required to fully satisfy these requests with the aim to maximise STP (Straight Through Processing)."