Date: 07 May 2019

Tags: case study

Asset Management - FX Cash Management in iRecs

Our client had been using iRecs for two years for market value reconciliation and daily cash reconciliation. These processes had delivered considerable benefit to the company allowing granular verification of all transaction flows on a day to day basis, and the verification of positions, prices and FX rates as required as part of a market value or NAV reconciliation. 

The fund mandate required all foreign currency earnings to be repatriated to the fund’s  domestic currency (usually USD); a common approach in emerging markets asset management. This placed the responsibility for executing foreign exchange trades with the custodian who would aggregate to sweep the currency balances of several transactions into one.

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Duncan has over 30 years experience in the financial markets working in both New York and London. He was previously Global Head of Operations for a $350bn asset manager, Head of Operations at a London hedge fund and Head of Back and Middle Office Development at the largest hedge fund in Europe. Duncan is a keen sailor and can be found regularly crossing the channel in his yacht 'Liquid Asset'.

Key Points.

  • $30bn+ AUM Asset Manager.
  • Emerging Market Equities
  • Simcorp Dimension PMS
  • Cash Balances,Trades, Cash flow, NAV and Market Value Reconciliation.

White Papers.

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  • Key Features of a Successful System Implementation
  • Servicing Hedge Funds - HFM Week Article
  • Basic Securities Reconciliation For The Buy Side
  • Data Aggregation For Asset Reconciliation
  • The Direction of Reconciliation Systems
  • Total Equity Reconciliation for Derivatives
  • Reconciliation Best Practice
  • The Role of Reconciliation in Managing Operational Risk
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