dConfirm: Trade Confirmations Processing
dConfirm reduces the operational risk surrounding OTC derivative processing through the automation and consolidation of post trade confirmations.
With a very powerful interface provided out-of-the-box, you can view which of your counterparties require urgent chasing for a significant backlog of unconfirmed trades. Key performance indicators can be set by management and triggered to create alerts when they are breached.
Key Benefits: Overview
- Full integration with off-the shelf and custom portfolio management systems through the use of FIX and FpML adapters that come with the product.
- Easily extendable to capture new, more exotic, OTC derivative instrument types if and when required by the front office.
- Significantly reduces the time middle office spend on low-value tasks around the confirmation process.
- This will allow them to focus on the areas that are really presenting operational risk, such as chasing counterparties and dealing with trade errors.
Key Benefits: Ageing Reports
- dConfirm can automate the process of setting a trade to a confirmed state by matching trade information in the system against what it receives from middle office via an email.
- Ageing reports can easily be produced to illustrate in real-time all outstanding trades by multiple identifiers e.g. “show me all unconfirmed trades > 30 days broken down by counterparty”.
- The user can create custom reports themselves easily through the web-interface and subsequently save it, share it and even get it to be generated automatically and emailed to them at a given date and time.
Key Benefits: Trade Searching
- When dConfirm receives an email from middle office with supporting paper collateral e.g. ISDA document, Bloomberg screen-grabs, Excel workbook etc, it automatically attaches and archives this to the correct matching trade in the system.
- This gives the ability to find all the details for a given trade with just one search using the Advanced Trade Find feature.
- It is possible to search using multiple criteria based on the economics and status of the trade.
Key Benefits: Technology
- dConfirm is built using Microsoft Technologies including .NET, meaning all data such as reports can easily be exported to other Microsoft applications such as Excel and Access with ease.
- All actions performed by the user are logged making dConfirm highly transparent and auditable.
- Alerts can be created on almost any piece of data within the application. For example, out of the box, dConfirm can alert the middle office if a trade is done with an un-recognized counterparty by the execution desk via email.
Projected road-map for dConfirm
- Integration to Swapswire and DTCC
- Rules based matching engine for STP trades
- Automation of reconciliation activities against utility providers, such as administrators and prime brokers.
