The global nature of the capital markets and the move to T+1 settlement is driving a need for buy-side firms to achieve Straight Through Processing (STP) and matching of trades without manual intervention.
Watson Wheatley is excited to bring a new solution to market to address this need; iRecs Affirm allows buy-side firms to apply automation to the T0 post-trade affirmation process at scale, across multiple counterparties and spanning a large range of asset classes.
With a short implementation period, broad coverage, elimination of volume-based pricing tiers and built on proven technology, the iRecs Affirm solution represents the latest benchmark in post-trade matching.
The solution leverages new matching technology, data-transfer and data-manipulation technologies to parse flat files and/or email attachments from Order Management System (OMS) / PortfolioManagement System (PMS) providers and Executing Brokers into a single standard format. The solution offers the flexibility to consume files from email attachments therefore there is very limited impact to existing Broker workflows, avoiding costly setups usually found with FIX or other API solutions.
iRecs Affirm from Watson Wheatley is a cost-effective solution which is quick to implement and fully supported by the awardwinning team at Watson Wheatley. The scalable solution allows expansion into other Watson Wheatley applications such as data aggregation, iRecs reconciliation and the Nevada suite of analytics reports.
"The implementation of iRecs has made a meaningful contribution to our control environment, improving the productivity of reconciliations between internal systems, administrator and counterparties in a cost effective manner. The WWFS team were both pragmatic and helpful throughout the process."
London Hedge Fund
"The delivered product has exceeded our expectations by catering for so many complex issues, and is providing significant time savings allowing focus to be exception driven. User response to the system has been very positive. While post live support required has been minimal, the response time to all questions raised has been excellent – and gives us great confidence for the future"
London Asset Manager
iRecs is an automated reconciliation system designed to meet the needs of the asset management industry. iRecs matches positions, balances, trades, cash flows and uniquely, P&L between internal systems and external service providers and across all instrument classes.
iRecs is the only system available that completely solves margin accounts reconciliation for listed and OTC derivatives. iRecs also handles full NAV reconciliation accounting for all differences in positions, balances, prices and exchange rates between the internal accounting system and records provided by the custodian or administrator.
Nevada is a comprehensive portfolio analytics tool providing aggregation and comparison of prime broker data allowing optimisation and operational insights.
We used to provide a huge list of the various interfaces we have built over many years of reconciliation. The list is now too long to publish and also implies building a new interface is a large undertaking.
Fortunately with our Importer application adding new interfaces with our template system is extremely easy!
We strive to make iRecs the best software available and we're thrilled that the industry has consistently recognised our offering.
