Electra Settlements — Settling Trades In Countries With Multiple Exchanges

September 19, 2017

A North America base advisor (237 billion AUM) focused on equity & fixed income trading didn’t have an effective way to differentiate between the Shanghai and Shenzen market in China. For each trade, they manually generated and fax specialty trade tickets.

Our help desk assisted the user in fully automating the selection of correct broker instructions in Electra Settlements for both the Shanghai and Shenzen activity based on the exchange code within each market. By incorporating an exchange code into the broker instruction selection logic, we were able to automatically differentiate which broker details to append to the trade instruction.

Once incorporated into their daily workflow, our client was able to free up and reallocate the 40 minutes it took to manually process their Chinese settlement activity to another operational task.

(Brian Prioleau, Manager of Settlement Solutions)

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Electra Blog Posts

Electra Billing — Invoice Narratives

September 7, 2017

Through the use of Invoice Narratives, Electra Billing provides account level options for displaying custom communications on invoices.  Invoice Narratives can be added, removed, or updated on demand as well.  Furthermore, clients utilizing the Electra Billing Watcher Service can automate the loading of narratives from other internal systems to provide a flexible and dynamic communication channel for outgoing invoices.

(Doug Fritz — Product Manager)

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Electra Blog Posts

Electra Reconciliation — Make Life Easier with Absolute Value Sorting

August 9, 2017

This is particularly useful when finding offsetting transactions, or when you want to line up the trade values that came with the wrong perspective.

There are two ways you can do it.

  • The easiest way is to left-click the column header while holding the [Alt] key.  This will toggle Abs() sort on this column.
  • You can also use a tickbox in the SmartSearch Column Setup (right-click column header and select Column Setup tab to get there):



Whichever way you set the Absolute sort, it will be saved when the SmartSearch is closed, just like the SmartSearch column layout. Please note that the Absolute sort feature is available in Electra Reconciliation Version 5.6.03 and above.

(Alexander Musayev, Senior Implementation Consultant)

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Electra Blog Posts

Reducing Risk in NAV Valuations

July 23, 2017

We recently demonstrated our award-winning Electra Reconciliation solution to a current Electra Data+ client to hear their thoughts on our product and how it compares to their current reconciliation process, which includes a commercial reconciliation product, Excel spreadsheets and Microsoft Access databases. During the Electra Reconciliation demonstration, we stopped to highlight our NAV reconciliation capabilities. Today, this client performs the NAV reconciliation in an Excel spreadsheet because their current reconciliation solution lacks support for this important month-end requirement. The client shared details about the many challenges they face when collecting NAV data from their custodians and using Excel to reconcile it. They are manually gathering and populating NAV data within multiple Excel spreadsheet tabs with additional data manipulation necessary to accommodate their hard-coded file layout and custom macros. The client understands that each time someone handles the data manually, they are introducing additional risk to an Excel-based process that is already fragile. With these risks in mind, our client has asked Electra to expand their use of the Electra Data+ service to not only include the cash, transactions and positions data being collected today, but also audited NAV data.
(Todd Sloan, Senior Vice President — Electra Reconciliation)

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Linedata And Electra Integrate Reconciliation And Fund Accounting Platforms

June 6, 2017

Electra Information Systems and Linedata have announced the integration of Electra Reconciliation and Linedata Mfact, Linedata’s global fund accounting solution.

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Fashion Compliance – Matching Mixed Prints, Zero Tolerance Persists

May 16, 2017

**FFC Special Report** …(FFC, aka Finance Fashion Control)

An Electra Reconciliation client called the help desk this week asking if it was OK to wear stripes with plaid.

We were quick to inform him that although the “fashion rules” are beginning to allow mixing prints this season (think: floral with a vintage paisley, for example), really bold prints like stripes, plaid, polka dots, checks and houndstooth etc., cannot be reconciled. Note: Not applicable to vacation days, Casual Fridays, nor to residents of Florida, Hawaii or Alaska.

(Steve Weinberg, aka in-house, sartorial savant at-large)

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Electra Data+ — Facilitating Complex Client Cost Reconciliations

May 8, 2017

Electra Data+ facilitates our clients’ cost reconciliations in a number of different ways. One of the bigger challenges occurs when the client favors a Position Report and the required cost basis data element is not included.

A recent example involves a client of both our Electra Data+ and Electra Reconciliation (eSTaARS) services. While they preferred the trade date based FTP Report that Electra receives for quantity/MV matching, this client requires cost basis as a data element whenever possible. The hitch being that this data is only available on a settlement dated .csv file received from the UBS PaineWebber website.

By using the eSTaARS combine feature and tweaking the mapping document of each file from our standard mapping, we were able to extract the cost basis data from the settlement file and combine it with the trade date based quantity/MV report and successfully matched it against their manager records. (Chris Koumou – Project Manager, Data Services)

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Electra Data+ — Real-time Cash Balance and Trade Files

April 20, 2017

It’s becoming an increasingly popular request from clients to start receiving Real-time Cash balance and trade files throughout the day.  Besides the ability to reconcile any previous days’ holdings, cash and transactions, there has been a push to stay on top of the current trading activity and cash movement throughout the day.  Not every custodian and brokerage house provides real-time file availability, though we’ve found the larger institutions do and more are following. (Andy Gnibus, Manager of Data Services)

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Electra Billing — Simple yet Powerful Tools

March 13, 2017

An Institutional manager using Electra Billing called our support team this week to inquire how to setup a new client with an unusual fee arrangement. Their new client is requesting to be billed quarterly but wants the fees calculated monthly for each of their accounts.  We showed the client how to use the billing cycle settings combined with the invoice cycle settings to meet the needs of their new client. This capability makes it easy for clients to handle differences in frequency of fee calculation and frequency of invoicing. They were relieved to learn about this simple, yet powerful option. (Doug Fritz – Product Manager)

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Electra Settlements — Magic of Customizable Field Logic

February 24, 2017

A new Canadian and U.S. Investment Manager, 42 billion AUM, trading global equity and fixed income instruments wanted to supply their own commission rate calculation into Electra Settlements for further downstream processing to the Oasys.

Problem:

The commission rate calculated for Oasys at the block and allocation levels didn’t match the OMS commission rate calculated internally by our client and the broker.  The broker reported the difference between the 8 decimal places on Oasys, verses the 3 decimal places on their books.  One of the new client’s reasons for purchasing Electra Settlements was to resolve this longstanding issue.

Example:

Oasys commission rate = 0.01500096

Brokers expected commission rate = 0.015

Resolution:

Customizable field logic allows clients to provide their own calculated commission rate (post-rounded 4 decimals) used for downstream Oasys matching. Instead of utilizing the standard commission rate calculation logic (pre-rounded 9 decimals), this allows the brokers to auto-match on Oasys at the block level without any manual intervention.
(Brian Prioleau, Manager of Settlement Solutions)

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