Electra Information Systems has expanded its Electra Reconciliation platform to enable firms to process investigations by identifying the root causes of trade breaks or exceptions.
Electra Reconciliation has been designed to assist asset managers and service providers improve efficiency, accuracy and transparency across reconciliation, exception management and the entire post-trade process.
The platform will see an expansion on its integration of cash, positions and transactions to include research data—such as failed trades, corporate actions, securities lending and collateral—into the investigation process.
The system provides access to a research data repository that serves as a single point of reference to help accelerate investigations, reduce manual intervention and errors, and foster cross-functional collaboration and transparency throughout post-trade operations.
As part of the upgrade, machine learning will also be used for automatic source data mapping, which will recognise behaviour patterns on external events and third-party data to integrate these patterns into the investigation workflow in a future release.
John Landry, CEO of Electra, said: “Identifying exceptions is easy, but investigating their root causes is where the real work begins. One failed trade can impact multiple post-trade functions, potentially reaching a net asset value, corporate action, position or cash balance.”
Landry added: “With increased margin compression and greater competition, investment managers can no longer tolerate high error rates and redundancy in the investigations process due to the same work being performed across different reconciliation solutions and outside sources. They must eliminate investigation silos which impose greater risk as product complexity and transaction volumes increase. Electra Reconciliation 6.0 raises the bar for improving efficiency and transparency across the entire investigations process, and across the firm.”
