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

  • USD800m+

    in AuM

  • 3x

    faster turnaround time

  • 40%

    operational cost savings

  • 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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