Use Case > Reconciliation

DTCC GTR Reconciliation and Operational Reporting

CURRENT STATE

Non-differentiating regulatory reporting requirements

The regulatory requirements to reconcile swap data repositories, such as the DTCC GTR, with internal trade representations are constantly changing. Different data needs to be reported to different repositories on a daily basis.

The current process relies on IMatch for the majority of reconciliations and other ad hoc data and reconciliation requirements are typically handled manually using spreadsheets.

CHALLENGE

Capture and transformation of fuzzy data

Firms are used to seeing a significant number of exceptions and breaks due to the complexity and fuzzy nature of the data. There are also issues with the complexity and performance of working with up to 300 data columns.

Existing processes cannot be changed as firms can face a significant wait time of over 12 months to build a new reconciliation in IMatch. Reconciliations are typically complex because the data is not fully normalised before running the reconciliations process.

XCEPTOR SOLUTION

Transformed data, optimised processes and simplicity

Xceptor can handle messy data. All forms of data are automatically captured and transformed within Xceptor. Clients are able to, through intuitive rules building, create and enhance reconciliation and operational reporting easily and quickly. This means any changes needed to adapt to new regulatory changes can be simply handled on-the-fly. Xceptor also provides a controlled and fully auditable process which is imperative to answer any regulator data lineage queries.


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