Leading European asset manager has gone live with CheckFree’s, a part of Fiserv, Inc. post-trade processing application, CheckFree TradeFlow, for OTC Derivatives.
The implementation extends the existing CheckFree TradeFlow deployment for securities, foreign exchange and money markets, enabling the firm to create a single, integrated, post-trade processing platform across all asset classes.
Deployed at its corporate headquarters, the CheckFree TradeFlow tool for OTC Derivatives is being implemented by the asset manager in two key phases.
The first phase, now live, delivers confirmation processing and advanced exceptions handling for credit derivatives trades through DTCC Deriv/SERV. Phase two is designed to implement a complete post-trade event management solution and support for additional business processes, including terminations, assignments, increases and amendments.
The asset manager has worked in close cooperation with CheckFree to develop a comprehensive software, enabling all trade confirmation and post-trade activities to be managed throughout the lifecycle.
CheckFree TradeFlow can support multiple business models, including domestic and cross border confirmation and settlement, with packages that provide connectivity, messaging, workflow, exception management, matching, alerting and business intelligence to allow rapid implementation of market standard processing.
The application is the first of a series that CheckFree intends to extend ultimately to cover equity swaps and interest rate products as well as the incorporation of the trade notification process to custodian banks.
“CheckFree TradeFlow is a powerful automated solution that ensures real-time awareness of exceptions, risks and status, enabling clients to act immediately within a single post-trade processing platform,” says Geoff Harries, vice president, product strategy, CheckFree Investment Services Software.
“Solutions that provide post-trade processing support, such as CheckFree TradeFlow, can help to alleviate the pressures of OTC credit derivatives processing by streamlining the end-to-end trade process resulting in improved operational control and increased efficiency,” says Sang Lee, managing partner, Aite Group.
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