Trade confirmation and reconciliation support to a leading US-based hedge fund

Client profile and challenges

Client is a leading asset manager in the US with portfolio exposure across the globe
Client was looking for help with the trade confirmation and settlement process in different time zones
Shadow accounting: accounting of all trades, CAs, pricing and setup in client books and reconciling with custodians

Trade processing on a T+0 basis
Live support for trading across the globe in the three time zones – Asia, EMEA and the Americas
Liaising with the respective brokers/custodians for trade confirmation and settlement
Shadow accounting of the books and reconciling with the fund administration team
We transitioned the process as it was and started trade confirmation in real time for all products, e.g., equity, futures, forwards, swaps and FX
Trade settlement was much smoother for Asian markets due to real-time support and follow-up
Started capturing all activities in real time and reconciling with the fund administration team; this resulted in fewer breaks
Tracked P&L reports and conducted daily and MTD reconciliation with the fund administration team at the product, currency and custodian level
Team was able to help with additional tasks such as settlement with the respective custodians due to the time-difference advantage
Onshore team could focus on clearing backlogs and preparing for launch of new funds

Real-time support
Expected to launch a new fund
Within a shorter period of time, we provided historical data and other data required
A number of reports can be generated for audit purposes (breakdown of revenue, expenses, etc.)
40%+ operational cost savings effected by the offshore delivery centre, providing a time-difference advantage

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