Automating the trade confirmation process
How a global bank's successful, rapid automation of its trade confirmations process led to further rollout to another division.
Operational risk due to manual processing.
The complex trade confirmation production and counterparty confirmation matching processes were supported in a global bank by disparate legacy systems with a high degree of manual intervention.
This highly manual process was due to the reliance on legacy systems which could not handle all the requirements of the confirmations process.
Disparate legacy systems were used for different asset classes to handle the discrete differences.
Inconsistencies in the trade confirmation process, increasing operational risk and hindering oversight ability.
Low rates of STP for specific asset classes, caused by manual processes.
Difficult to change required legacy systems to meet regulatory requirement.
Why was Xceptor chosen?
Automating trade confirmations.
Xceptor was implemented in a very quick timeframe to immediately start delivering benefits for the bank.
Take control of all your inbound and outbound confirmations processes in a single workflow.
Ingest data, produce documentation, escalate risks, and manage the indexing and return of confirmations in one standardised workflow across your entire business.
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.
Automation of the trade confirmation process across rates, credit, FX, energy derivatives and equity derivatives using a common format that is balance sheet agnostic.
Audit and tracking functions used to increase control over the derivatives operation.
Platform managed by the operations team, who are empowered to make changes and fix any issues themselves without reliance on IT support.
Subsequently, Xceptor was also rolled out to their operations team.
Operational risk reduction - Significant reduction in operational risk enabling it to satisfy strict regulatory requirements including Dodd Frank.
Cost reduction - Reduction in costs for processing confirmations through reduced processing time.
Multi-asset automation - Automated trade confirmations across rates, credit, FX, energy derivatives and equity derivatives.
Head of Confirmations
A Global Bank
Using Xceptor we’ve been able to streamline our trade confirmations process, taking cost out of the business and establishing better control over our derivatives operations. The original project was completed in just a few short months creating a real value-add for our international business and we have subsequently rolled our Xceptor to one of our operations teams.
Accelerate your trade confirmations process
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