-
USD800m+
in AuM
-
3x
faster turnaround time
-
40%
operational cost savings
CLIENT CHALLENGES
- 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
OUR APPROACH
- 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
IMPACT DELIVERED
- 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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