STaARS
The Electra Information Systems STaARS (Securities Transaction and Asset Reconciliation
System) automates the reconciliation of securities holdings, transactions and cash
between the books and records of an investment manager or hedge fund and its custodian
banks and/or prime brokers. The system is available in two variations, both of which
share a common user interface and offer identical functionality. STaARS is developed
in a proprietary rapid application environment and has a proprietary data structure.
OpenSTaARS has a Microsoft SQL Server database, which offers larger users scalability
and speed in processing. Except as noted, references in this document to STaARS
apply equally to both the original version of STaARS and the SQL Server version,
OpenSTaARS.
STaARS replaces the manual, paper intensive “ticking and tying” with an automated process.
STaARS is rapid to implement, easy to use and intuitive for users. STaARS matches the
manager and bank data and produces easy to read reports listing matched items and
exceptions (unmatched items, breaks, etc.). A powerful easy-to-use report writer
gives end users great control over data. Users can work with exceptions in a number
of different ways in an interactive reconciliation environment, in a case browser or
by generating reports and exports (standard and user-defined).
STaARS also includes:
- integrated ability to export data destined for other systems
- interactive and multi-currency cash balance worksheet
- integrated scheduler for reporting, matching, importing, exporting, archiving, and housekeeping
- filtering, data normalization and enrichment
- inbound/outbound messaging layer for data translation and normalization
- rules-based multi-pass generic matching
- rules-based exception management
- automated security cross referencing across many securities identifiers
- flexible screen layouts customizable by end users
- exceptions aging
- audit trail to track user activities
- data import log to track data imports
- activity log to track automated system activity
The STaARS investigations and exceptions management module provides the investment manager with a workflow management and organization tool.
Identifying exceptions and supporting their resolution is greatly simplified. Exceptions are presented in a simple well organized case browser, which:
- automatically identifies exceptions according to predefined rules creating
a unique “case” for each exception
- automatically notifies the appropriate parties at the investment manager
- uses integrated email to notify custodians and interested parties of problems
- alerts senior management of items which represent unacceptable exposure
- automatically ages all outstanding cases
- maintains a complete audit trail, with notes, for each individual case
- allows for the attachment of relevant supporting documents (e.g. spreadsheet) to cases
- allows grouping of cases by user specified criteria such as type, bank, account, responsible party, security
- automatically resolves open exceptions if the status of or details associated with the exception change (thereby closing the open “cases” associated with the exceptions) without the need for user intervention
- provides powerful search and query tools
|
|
|
