Client story

Automating trade confirmations

How a leading global bank increased rates of straight through processing (STP) while reducing its risk and costs.

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Situation

Manual intervention creates operational risk

The needs and timeliness of the complex trade confirmations process are constantly evolving, leaving our client struggling to cope with its disparate legacy systems that couldn’t keep pace.

The increasing reliance on manual intervention introduced operational risk as inconsistencies grew, causing regulatory requirements to be unmet. 

Pain points

  • Manual intervention caused low STP rates for certain asset classes.
  • Inconsistencies in the trade confirmation process increase operational risk.
  • Regulatory requirements were unmet due to the use of legacy systems not fit for purpose.
  • Disparate legacy systems handle multiple asset classes.

Pain points

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Layer_1

Manual intervention caused low STP rates for certain asset classes.

Layer_2

Inconsistencies in the trade confirmation process increase operational risk.

Layer_3

Regulatory requirements were unmet due to the use of legacy systems not fit for purpose.

No_4

Disparate legacy systems handle multiple asset classes.

Solution

Different asset classes in different formats

With numerous asset classes to settle – from rates, credit, FX, and energy derivatives to equity derivatives – our client wanted a single solution that could handle all asset classes. 

Automation of the trade confirmations process across multi-asset classes. 

The platform is managed by the operations team, enabling them to implement rollouts and rules without the need for IT.

Our client has control to continuously improve the process by refining rules on an ongoing basis.

The audit tracking function increases control and reduces risk.

Vector

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

Vector2

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

Vector3

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.

Our solution

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Automation

Automation of the trade confirmations process across multi-asset classes.

People

Platform managed by the operations team, enabling them to implement rollouts and rules without the need for IT.

Version control

Our client has control to continuously improve process by refining rules on an ongoing basis.

Audit log

The audit tracking function increases control and reduces risk.

Result

Reduce operational risk and maintain regulatory requirements

Multi-asset automation with automated trade confirmations across rates, credit, FX, energy and equity derivatives.

 Lower costs for processing confirmations through reduced processing time and high STP.

Significant reduction in operational risk enabling our client to satisfy all regulatory requirements.

quote

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, and we have subsequently rolled our Xceptor to our South African operation.

Head of Confirmations, Leading Global Bank

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Accelerate your trade confirmations process