Trade volumes are rising worldwide and the Central Securities Depository Regulatory (CSDR) initiatives are fast approaching. Investment managers still relying on manual processes for collecting trades, sending trade and wire notifications to custodians, matching trades, and sending block trade details to brokers face settlement risk and additional cash penalties on trade settlement fails.
Electra Settlements enables your firm to mitigate settlement risk, gain control of your post-trade processes, and follow industry best practices. It delivers seamless custodian trade and client notifications, confirms/affirms and settlement instructions – providing a central nexus for connecting investment managers, custodians, prime brokers, clients and other participants. It also connects with multiple matching platforms as well as accounting and order management systems.
Automates Post-Trade and Wire Processing
With Electra Settlements, the settlement process is fully automated, giving your operations team the assurance that trades are processed and delivered with the correct instructions. It consolidates all post-trade processing into a single platform featuring a dashboard for automating wire instructions for any and all purposes, regardless of currency.
Provides Efficient Trade Workflows
Electra Settlements aggregates trade data and sends it electronically to your brokers, custodians, prime brokers, clients and other parties using industry-standard and proprietary formats and communication protocols – creating smooth workflows that improve straight-through processing across your operations teams. Electra Settlements takes in trades and finds the best ways to get them out to custodians in an automated fashion – customized to your firm’s unique workflows – and eliminating the need for manual workflows by your staff.
Supports Multiple Assets, Currencies and CSDs
Electra Settlements is used to settle trades for a diverse set of asset classes – from vanilla equities to derivatives, options and futures – and access multiple currencies and central securities depositories (CSDs). Electra Settlements allows a firm to handle the nuances of rules based on custodians, accounts and wrap notifications in different formats, including SWIFT as well as multiple file formats, to work with custodians and deal in complex instruments.
- Certified SWIFT Messaging/ISO15022 interface
- MT103, MT202, MT210, MT304, MT540, MT541, MT542 and MT543 message types
- Additional message types available upon request
- Custom blotter and canned trade ticket PDF formats
- Connectivity to all major settlement systems and methods
- Unlimited archiving and querying of broker confirms
- Automated exception alerts and email notifications
- Custom confirm/affirm report creation
- Multi-level wire review and approval process with full audit trail tracking
- Multiple matching criteria for U.S. (DTC, FED) trades
- Interactive, configurable user dashboard of all matching activity
- Available as an installed, on-premise application or as a software-as-a-service (SaaS)
- Supported by a team of operations experts
To request a demo on Electra Settlements, please click here.