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

Client sponsor: CFO of the firm – one of the leading asset managers in the US with global portfolio exposure
Client need: Client was looking for an extended team that could help with the trade confirmation and settlement process in different time zones
Shadow accounting: Accounting for all the trades, CAs, pricing and setup in the client books and reconciling with custody

Trade processing on T+0 basis
Provided live support for trading across the globe in three time zones: Asia, EMEA and Americas
Liaised with respective brokers/custody for trade confirmation and settlement
Shadow accounting of the books and reconciling with fund admin
Transitioned the process as it was and started trade confirmation in real time for all products, such as equity, futures, forwards, swaps and FX
Trade settlement was much smoother for Asia markets due to real-time support and follow-up
Started capturing all activities in real time and reconciled with fund admin, resulting in fewer breaks
Tracked P&L reports, daily and MTD recon with fund admin at the product, currency and custody level
Team helped with additional tasks – such as settlement with respective custodians – due to the time-zone advantage
Onshore team was able to focus on clearing the backlog and preparing for launch of new fund
Third-party tools
- CTM – DTCC
- VPM
- MW
- Custody and bank sites

Faster turnaround time in generating historical operational data for management/stakeholder meeting
For audit purposes, set up several audit reports generating customised reporting (reports showing breakdown of revenue, expenses, top holdings, top movers, etc.)
40%+ operational cost savings and time-zone advantage

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