The long winter has given us at Financial Technologies Forum the extra time we needed to pull together many projects such as the Winter/Spring edition of the digital FTF News magazine, officially debuting today. In the meantime, the FTF News website has been re-launched and we have hit a warp speed that Captain Kirk would… Read More >>
The Pain of Recs Onboarding
Reconciliation technology is gaining ground as a result of market pressures and greater demands for data transparency and integrity, according to a new report from market research firm Aite Group. In fact, reconciliation is being applied to processes beyond matching cash accounts. But recs onboarding is becoming a significant challenge for firms, Aite found via… Read More >>
Would You Pay $812,460 to Fax Confirmations?
Manual processing stings especially in the investment fund services industry. Order placement, confirmation, fund transfer and reconciliation processes remain dominated by little or no automation, says market research firm Aite Group. In one case, a fund management firm spends $812,460 (€600,000) annually on faxes for its Taiwanese investors—representing 30% of the total transfer agency bill… Read More >>
DTCC Hits Corporate Actions Milestone as Woodfield Eases Ops Burdens
DTCC Hits Corporate Actions Milestone The DTCC reached a milestone in June when it distributed 100 million ISO 20022 corporate actions announcement messages to banks, brokerages and other financial institutions, say officials at the industry utility.The DTCC, through its subsidiary, the Depository Trust Company, began distributing ISO 20022 announcement messages in November 2011 after an… Read More >>
The Dirty Secrets of Retro Recs Processing
The dirty secret about reconciliation and exception management is that many firms – large and small – are still using mostly manual processes. They are applying a mix of calls, faxes, data feeds, spreadsheets, internally developed applications and a desktop database to the problem, essentially what they were doing to support trading in the late… Read More >>
FTF News Prediction #1 for 2013: A Major Recs Revival Gets Underway
(Editor’s Note: This story is running in our first-ever FTF News Winter/Spring digital issue that features our top five predictions on industry trends that are likely to be the focus for many securities operations and technology professionals throughout 2013. We will be running our prediction stories from the digital issue throughout the Spring. The digital… Read More >>
Case Study: Wading Into Recs Automation
Evan Fire says he didn’t rush into a new reconciliation platform when the New York-based Pzena Investment Management transitioned from a manual system to automation in 2004. Fire, who is the operations and administration manager and principal for the firm, says he took a deliberately methodical approach. The go-slow strategy was necessary because the equities-only,… Read More >>
Tech Spotlight: Gresham Computing
(Editor’s Note: Gresham Computing, based in London, is this week’s focus for the FTF News Tech Spotlight. Our Q&A with the CEO Chris Errington details how the upstart provider has reinvented itself just in time for a renaissance in reconciliation. This and other Q&A’s with key upstart companies will be featured in FTF’s online magazine,… Read More >>
