The National Bank of Greece (NBG) in Cyprus has gone live with a reconciliation solution that leverages artificial intelligence (A.I.) technologies — the Air system from Smartstream — and has replaced four incumbent systems, officials say. The implementation is intended to help the bank’s operational efficiency by “reducing daily manual processing effort and eliminating the… Read More >>
Gresham Renames Former S&P Unit as ‘Opus EDM’
Gresham, the enterprise data automation and reconciliation solutions provider, has renamed the enterprise data management (EDM) platform that it acquired from S&P Global Market Intelligence as Opus EDM, underscoring how the system has been designed to take on demanding environments, officials say. “The platform, which has traded under several names across more than a decade… Read More >>
Derivative Path & CloudMargin Align OTC & Collateral Management Systems
Two providers whose offerings are delivered via the cloud — Derivative Path and CloudMargin — have been collaborating to yield new links between Derivative Path’s DerivativeEdge platform for capital markets and risk management support, and CloudMargin’s cloud-native collateral management platform, officials say. The new automated alignment is intended to replace manual processes and workflow friction,… Read More >>
Gresham Acquires S&P Global’s EDM Business
Gresham, an enterprise data automation solutions provider, has acquired S&P Global’s Enterprise Data Management (EDM) business, and this “strategic carve-out” is intended to expand Gresham’s presence among enterprise data services providers and, overall, bolster its offerings to buy-side participants, officials say. Gresham’s main efforts in offering capital markets data automation have been based upon reconciliation… Read More >>
Ops Teams Work Smarter via Clear Data & Insights
(Reconciliation and exception management, net asset value oversight, compliance checks, fee billing, and settlement all rely on data that has been properly captured, validated, and distributed — sometimes from thousands of sources. In an FTF News Q&A, Jenn McMackin, global director, data and managed services at Gresham, takes on these issues and discusses the provider’s… Read More >>
AutoRek Launches Recs Platform for Crypto Ops
AutoRek, a provider of automated reconciliation and financial control solutions, has launched Mion, a data management and reconciliation platform targeting a gap in the market for financial institutions — cryptocurrency and digital asset operations, officials say. Mion offers “unprecedented precision” because it offers “processing up to 20 digits before and 18 after the decimal point… Read More >>
Are Firms Heading Toward a Recs-Related Disaster?
Many firms could be heading for “an operational disaster” caused by rising transactional volumes, soon-to-be-overwhelmed manual reconciliation processes, and a reliance on legacy systems and outdated technology, according to a new report, “The Tipping Point for Asset Management Operations: The rising costs of operational complacency” from provider AutoRek. The report, based on securities industry surveys,… Read More >>
Recs Projects Still Seen as ‘Complex, Costly & Messy’
(Marc McCarthy has worked for 25 years in reconciliations. His career began as “a reconciler and then project/program manager at Tier 1 banks,” he says. He also had a secondary career in consulting, sales, and executive roles on the provider side. He launched ReconIQ, a London-based specialist in reconciliation advisory services during the second quarter… Read More >>
Automation for Recs & Settlement Is Up for Listed Derivatives
Participants in listed derivatives markets are improving the automation of trade settlement and reconciliation largely because of their ongoing investment in reference data, according to a new report from SmartStream Reference Data Services and Acuiti Management Intelligence. The findings of the report “The Future of Reference Data: From Compliance to Alpha,” are based on surveys… Read More >>
SmartStream Air Update Takes On Spreadsheet Reconciliation
SmartStream says the latest iteration of its Air platform, version 9, takes on inter-system data validation and spreadsheet reconciliation — key capabilities previously too expensive to automate via traditional reconciliation platforms. In fact, SmartStream Air is not traditional as it’s a cloud-native system that is similar to a consumer app because it does not require… Read More >>
