Funds automation?  Discover how to easily improve your STP rates, with Automated Reconciliation & Data Transformation, in SaaS

The financial industry increasingly demands complex software solutions to improve STP and automation, but at the same time, the industry also faces the continual challenges of cost containment and the need for operational excellence and efficiency.

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Focusing specifically on the funds industry, some of the key challenges are:

• Message flows are not fully automated, and automation needs standardization: a number of actors are using SWIFT, some are still using faxes, while others rely on some other standards such as FIX or proprietary formats.

• MT-MX migration – At the end of 2015 the SWIFT messages MT 502, 509, and 515 will be decommissioned.  As from Q1 2013, a number of price incentives will be introduced for “early adopters”, but more critically, for those delaying the migration a number of price disincentives will also be introduced.

• The interoperability of ISO 15022 (old format) with 20022 (new format) requires a message transformation.

• Reconciliation of different asset classes from multiple flows in different formats including, Cash and Securities positions with custodians, forex & money market, Funds positions and so on.

That’s why more and more key players in the funds industry are choosing Software as a Service (SaaS) solutions – already available complex software products that they can easily subscribe to and use.  However, this approach only addresses one side of the coin, as the supporting IT infrastructure and operation of the software in a SaaS mode are still an issue.

That’s why Clearstream Services and Sterci have teamed up to provide a comprehensive service offering to the funds industry, with Sterci providing the best-in-class software products and Clearstream Services hosting and operating the software from their secure data centres located in Luxembourg.

Clearstream Services has been offering IT Hosting, Managed Services and SaaS solutions since 2004, when it became PSF certified (Professional du Secteur Financier). Since then it has developed a number of award winning Data Centre, Application Hosting, Co-Location and IT Managed Services technology solutions for the international financial sector.

With around 500 IT specialists, Clearstream Services delivers global IT solutions including:

• Full IT Operations available 24*7*365
• Data Centre Hosting
• System and Storage Management
• Network and Data Management
• Security
• Application and Service Level Management
• Dedicated multi-lingual Service Desk
• Disaster Recovery Planning

In addition, in its capacity as one of the world’s largest SWIFT network users, Clearstream Services offers a seamless two-way managed access to the SWIFT network through our SWIFT Service Bureau, to which additional services can be included, such as AML, e-Archiving, automated reconciliation, enhanced reporting and queries, and duplicate detection.

Sterci is a market-leader financial messaging solutions, and has developed a suite of products that addresses challenging issues such as multi-network access, format transformation, risk management and cost of ownership. Sterci also provides solutions for messaging, reconciliation, data management, and business flows integration and format transformation.

By combining the strengths of Clearstream Services and Sterci, the funds industry can now subscribe to two key products from Sterci, which are hosted and fully managed by Clearstream Services:

• Sterci’s GTMatch – an enterprise-wide reconciliation and exception management product. GTMatch provides real time reconciliation for all business lines and market instruments including cash, general ledger, accounts, securities, funds, and treasury.  GTMatch seamlessly incorporates all data types across the entire enterprise, its powerful transformation engine ensuring any format interoperability.  This comprehensive solution provides true consolidated visibility through dashboards and enhanced reporting, thereby dramatically reducing operational risk and ensuring effective regulatory compliance.  GTMatch has been granted the “SWIFTReady” label (for Reconciliation applications) in 2012 for the 8th consecutive year.

• Sterci’s GTFrame – a comprehensive transformation and business flows integration solution.   GTFrame provides an efficient rule based mapping tool supporting all financial libraries such as SWIFT, SEPA and FIX. It is a highly scalable service ensuring global interoperability, managing the co-existence of different standard message formats, sophisticated workflows and business process automation.  GTFrame has been granted the “SWIFTReady” label (for Funds applications) in 2012 for the 8th consecutive year.

By using the above products from Sterci in SaaS mode through Clearstream Services, the funds industry can help improve their STP ratio a number of ways:

• SWIFT Service Bureau connectivity based in Luxembourg, and compliant with the CSSF (Commission de Surveillance du Secteur Financier)
• Easy and cost-efficient access for the smaller players in the funds industry to access the SWIFT platform
• Multi standard format support for ISO 15022, 20022, FIX
• MT-MX translation rules for the transition period until the end of 2015
• Transformation engine supporting any back office formats conversion to SWIFT standards
• Reconciliation of cash and securities positions with custodians or prime brokers
• Matching of trade confirmation with brokers
• Matching of forex and  money market confirmations with counterparties

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To find out more about how SaaS solutions for STP and reconciliation can help improve your flows, come and join Clearstream Services and Sterci for lunch on 24 January 2013:

Venue:    Hôtel le Place d’Armes, 18 place d’Armes, L-1136 Luxembourg
Date:        24 January 2013

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Program:
11.00:  Welcome coffee
11.30:  Presentation by Clearstream Services and Sterci:

“Funds automation?  Discover how to easily improve your STP rates, with Automated Reconciliation & Data Transformation, in SaaS”

By Roberto Ditroia, Senior Manager, Clearstream Services, Financial Industry IT Services & Etienne Savatier, Associate Partner, Sterci

13.00: Apéritif
13.30: Lunch

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