UK investment management firm Baillie Gifford has turned to a third-party technology vendor to overhaul and automate its global post-trade operating model.
Following a market evaluation process, Baillie Gifford has chosen to work with trading software specialist corfinancial to implement its post-execution trade processing service, which covers trade confirmation, trade settlement and tracking of trade settlement.
“Baillie Gifford is unique in the UK in being a large-scale investment business that has remained an independent private partnership. This ownership structure has allowed us to keep our efforts focused entirely on our clients and their investments,” said Louise Laidlaw, head of settlements at Baillie Gifford.
“We decided that it was time to transition our existing operating model to a strategic solution that encompassed the whole trade processing lifecycle. Not only were we looking for a comprehensive, automated exception management system, but also the right people to work with.”
corfinancial’s settlement service allows users to manage and mitigate settlement risk through a central exceptions-based management hub, with full control of trade data. The company’s chief executive, Bruce Hobson, said that asset managers are seeking ways to improve their post-trade operating models.
“Today, investment management organisations are under increasing pressure to reduce risks, cut costs and bring efficiencies to post-trade processes,” he said. “Baillie Gifford recognises the benefits that straight-through-processing and scalability can deliver in helping the firm serve its growing international client base.”