Opus Fund Services has introduced a proprietary reconciliation module called Recon3 to its suite of middle-office services.
Recon3 reconciles external data sources, such as prime broker and counterparty information, with the Opus portfolio engine. A set of reconciliations and portfolio reports are automatically produced every evening and available to clients the following morning. Clients can view the reports via the iSymphony dashboard.
The module provides Opus clients with fully automated matching of transactions, cash balances and positions via a comprehensive SQL-based definition and matching engine. It allows three-way reconciliations between the fund manager, prime broker and fund administrator.
The automatic reconciliation of client accounts on a daily basis significantly reduces month-end processing time, dramatically improves overall data integrity, and ensures that Opus can continue to offer extreme value to its clients, says Opus CEO Robin Bedford.
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