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Client story

Automating Trade Reconciliations with Xceptor

 

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About Client

The onboarding process necessitated reworking previous administrator's data, relying heavily on Excel formulas, v-lookups, and mappings.

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It required a high level of manual intervention which led to keying errors.

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The process depended on specialists and contractors for successful onboarding.

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High operational and maintenance costs were incurred with each process, representing a recurring sunk cost.

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Pain points

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Onboarding funds required reworking the previous administrator’s data, relying on Excel formulas, v-lookups and mappings.

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There were high levels of keying errors because of the amount of manual intervention.

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A strong reliance on specialists and contractors to get them through the onboarding process.

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High cost to run and maintain each process, which was a sunk cost each time.

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    Global independent trading and logistics house, specialising in trading and transportation of physical commodities.  
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    Multinational business that operates globally with many thousands of employees. 
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    Plays a critical role in global supply chains.  
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    Serves over 120 clients globally.

Handled 50 million records per day

Reduced human error risk by 67%

93% reduction in time to deliver new reconciliations

Story Snapshot

 

Ageing
Eliminated up to 3 hours per confirmation and reconciliation 
Automation
Fully automated XML output enabled seamless integration into downstream Murex processes 
Press release
AI-driven data extraction from PDFs eliminated manual data entry 
Alerts
Business teams manage matching logic independently via a no-code interface 
Contact us
Eight IT/development days per new reconciliation saved
Audit trail
93% reduction in time to deliver new reconciliations

Challenge

One of the world’s leading independent trading and logistics houses, specialising in trading and transportation of physical commodities including crude oil, refined petroleum products, natural gas, and more.  The company plays a critical role in global supply chains by sourcing, storing, blending, and delivering raw materials to clients ranging from national oil companies to utilises and industrial producers.  

To do so, the company exchanges trade data in various ways, with unstructured data, in multiple formats PDF confirmations from brokers and Excel-based internal records. This resulted in operations team spending significant time manually reconciling data, which was not only time-consuming and error-prone but lacked transparency and auditability.  

The broader reconciliation landscape was equally complex. Data arrived from multiple sources, in varying formats – PDF, Excel, CSV, and XML – leaving the team with unstructured data to manually manage. These inconsistencies required constant format-specific adjustments, taking up significant time away from operations and IT teams.  

With daily reconciliations reaching over 50 million records, legacy systems struggled to keep up with the scale of operations. And, despite having a reconciliation tool in place, it was not equipped to deal with this volume of data the trading house dealt with, making automation difficult. As a result, business teams were heavily reliant on IT to create or adjust reconciliation logic, resulting in slow onboarding of new data sources and increasing operational risk.  

As these data volumes continue to grow, the company faced growing pressure to reduce operational risk and IT dependency while also seeking a product that would empower business teams with more control over reconciliation processes. 

That’s where Xceptor came in.  

Xceptor were initially selected for a proof of value (POV) to demonstrate their ability to handle complex reconciliations at scale. In addition, the business was looking for a vendor that offered platform flexibility (to handle multiple reconciliation types), ease of configuration, and overall ability to reduce manual processing. 

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Automating Reconciliations with Accuracy  

During the POV, Xceptor demonstrated in one use case how the platform uses AI and matching logic to extract key data points from PDF trade confirmations and match them against internal Excel records. Mismatches were automatically flagged and this triggered a workflow that routed exceptions to the relevant teams for remediation, enabling faster resolution and improved oversight.  

The business explored another use case whereby it used Xceptor to reconcile complex broker files with Murex open positions. Previously, this process required IT scripting to generate XML outputs for downstream systems. With Xceptor, the business automated data ingestion, applied many-to-one and many-to-many matching logic – which business teams would have previously had to ask IT leaders to create – and produced Murex-ready XML outputs, eliminating the need for manual scripting. 

 

Vector

Take control of all your inbound and outbound confirmations processes in a single workflow.

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Ingest data, produce documentation, escalate risks, and manage the indexing and return of confirmations in one standardised workflow across your entire business.

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Integrate all trade booking platforms, market utilities and resolution portals.

A market leader in confirmations processing, Xceptor is trusted by some of the largest global financial institutions.

Seamless Scalability  

Beyond the two use cases, Xceptor provided a scalable platform capable of automatically ingesting and normalizing any data, from any source or format – removing the complex, convoluted processes the business previously faced. Its no-code interface allowed business users to configure and adjust reconciliation logic independently, removing the bottleneck of IT involvement, saving time and resource. 

Results with Xceptor

Time Savings

Time Savings

Eliminated up to 3 hours per confirmation and reconciliation. 

Increased Scalability

Increased Scalability

The platform handled over 50 million records daily without performance degradation. 

Improved Accuracy

Improved Accuracy

Reduced human error risk by 67%, enhanced match scores, better break classification, and improved visibility into breaks and auditability. 

Faster reconciliation onboarding

Faster reconciliation onboarding

93% reduction in time to deliver new reconciliations, automating three times the amount. 

Cost Savings

Cost Savings

Saved 8 IT/Development days per reconciliation and 2 days per BAU change request, resulting in up to 1,800 days saved. 

Autonomy for Business Teams

Autonomy for Business Teams

Saved 8 IT/Development days per reconciliation and 2 days per BAU change request, resulting in up to 1,800 days saved. 

Ready to automate your Trade Reconciliations with Xceptor?

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