Digiterre Ltd has deployed its dConfirm product to Augustus Asset Managers Ltd who are now using the application to manage over 1000 new OTC derivative trades a month.
The Front Office can electronically submit deals from any portfolio management system into dConfirm through the use of its FIX or FpML adapters. Middle Office can enrich this information by directly emailing supporting collateral such as scanned documents, ISDA agreements and Bloomberg screen-grabs straight to the application.
dConfirm understands emails and will automatically match and store these details with the right trade.
Middle Office users are provided with an interface giving them a real-time view on all activity and the ability to search and drill down trades in seconds using multiple qualify indicators.
Custom reports can be created, saved and shared amongst users to, for example, show all unconfirmed deals by counterparty and age. Management is also able to create Key Performance Indicators and drive automatic alerts from them.
“We wanted an application that replaced our existing database and could fit easily within our current infrastructure to perform a specific set of functions, at a cost-effective price,” says Michael Allen, COO, Augustus.
“We are expecting continued uptake of this application not only from alternative investment houses but traditional asset managers who are increasingly trading in OTC derivative products,” adds Ravi Sawhney, head of trading solutions, Digiterre.