Macquarie Futures it set to use to the Amazon Web Services cloud to provide clients with automated reconciliation and exception management services as part of a deal with Gresham Computing.
Users of Macquarie Futures’ brokerage services in North America for trading futures and listed derivatives will benefit from using Gresham’s Clareti Transaction Control (CTC) solution, which can be accessed by logging into the Macquarie Portal.
CTC will allow clients to manage any risks associated with their portfolio in real-time, as well as reconcile all open future positions and cash flows. Automation of the reconciliation process in this way provides Macquarie and its clients with more effective risk management and real-time business-driven controls - enabling immediate alerts to any trade errors, for example.
Other advantages include an enhanced on-boarding process for new reconciliations, an upgraded user interface that augments research capabilities, and overall financial certainty on a much higher scale.
Chris Errington, CEO, Gresham Computing, commented, “Historically clients have relied on spreadsheets to keep track of open futures positions and have performed manual reconciliations with their broker to ensure everything tallies at the end of the day. Only discovering discrepancies or trade failures at the end of the day is a risky strategy and can leave a firm open to significant unplanned exposure in their portfolio.”
Global Research Manager of IDC Financial Insights, Matt Sauer, similarly observed that “Macquarie is taking a truly innovative approach in implementing CTC over the cloud to deliver real-time reconciliation services directly to clients. The industry has been striving for cost effective ways to help firms manage their risk more proactively. Allowing clients to carry out real-time reconciliations in this way is a real differentiator for Macquarie and represents a step change away from costly and less effective manual processes.”