With the advent of T+1, asset managers must decide whether to continue to manage failed trades after the event or focus on preventing them from occurring in the first instance.
SureVu®, from corfinancial®, emerges as a pivotal solution in this landscape, enabling users to avoid trade failure with effective governance and real-time data to keep them in control. Avoiding failed trade becomes effortless, enabling your team to tackle problems swiftly and effectively – something that will be essential within the tight daily time frames of T+1.
Management information dashboard
Imagine having a management information dashboard right at your fingertips, instantly pinpointing all the issues that demand attention and resolution.
Rely on your own data!
SureVu adopts the only efficient method in the industry by using an asset manager’s own local trade records as the foundation for monitoring trade statuses, ensuring a flawless process based on 100% of executed trades.
In contrast, some competitors rely on third-party records to manage failed trades, which poses significant limitations, as such data may lack reliability and timeliness, hindering effective and complete trade management.
Real-time updates are necessary in a T+1 world
Unlike some of its competitors, SureVu stands out by delivering real-time updates directly from custodian banks and prime brokers via SWIFT messages. This ensures that asset managers have access to timely and accurate information, enhancing their ability to comply with regulatory requirements, as well as prepare for T+1. If custodians cannot provide the information via SWIFT a user can manage the status updates within SureVu, creating a comprehensive audit record across all executed trades.
Some firms have had a potentially dated system in place for many years to manage failed trades. We’d like to introduce you to SureVu - failed trade avoidance, not failed trade management!
Early warning system: by managing pending trades, clients have seen up to 75% reduction in failed trades with prime brokers, which is essential to meet stricter settlement processing times. SureVu keeps users informed from the pre-settlement stage, displaying matched trades, and flagging those that are failing to match in the market. On settlement day, it highlights active trades that remain unmatched, and as a final step, notifies users promptly about failing trades, prompting immediate action.
Compliance assurance – industry-based CSDR compliance is non-negotiable. SureVu is designed with the settlement discipline regime as its core, ensuring your firm adheres to the rules.
Understanding the costs – SureVu offers a cost-effective remedy for the expenses associated with failed trades, presenting a viable solution that not only prevents unnecessary costs but also delivers tangible benefits to both asset management firms and their counterparties. Through its innovative approach, SureVu effectively minimises financial losses stemming from failed trades, fostering greater efficiency and financial stability across the board. This economical solution not only optimises operational expenses but also cultivates stronger partnerships between asset management firms and their counterparties, ultimately contributing to a more robust and sustainable financial ecosystem.
Conclusion
SureVu revolutionises trade management by putting the power of real-time data directly into the hands of asset managers. With its unique reliance on the clients' own records and utilisation of SWIFT messages, SureVu ensures unparalleled transparency, efficiency, and compliance. By choosing SureVu, firms can proactively avoid failed trades, reduce settlement processing times, and stay ahead of regulatory changes, safeguarding their reputation and financial health in the dynamic world of finance.
If you would like to discuss any of the points raised here, please contact us at resources@corfinancialgroup.com.
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