Date: 01 January 2016
This paper provides an outline statement of what we consider to be best practice with respect to the use of reconciliation software used by asset managers, hedge funds and commodities traders.
It is not a description of any particular product, although iRecs and Importer exhibit many of the characteristics described here. Rather it is an attempt to isolate what functions are important when supporting a process that all asset managers are compelled to do, however large. Very little accessible information on this topic appears on the web. Much of the wisdom surrounding the design of reconciliation software is inevitably proprietary and protected by the vendor unless exchanged for your email
address. Comparative analyses of different systems against a benchmark of key requirements do exist but are usually only available for purchase at significant cost. This paper aims to redress this in part by providing one vendor’s views about best practice and by making it available within the public domain.
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'.
