-
40%+
annualised operational cost savings
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
Our approach
- 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
Impact delivered
- 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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