Fast growing US wealth manager - salerio case study

Problem: A rapidly expanding US Wealth Manager with a daily 2500+ volume of trades (80% US Domestic Equities and 20% US Fixed Income) had outgrown its internally developed middle office capability. Based around inefficient and costly manual processes (e.g. much of their fixed income trade settlement instructions were delivered by fax) their post execution operation was clearly not scalable for existing investments, let alone their plans to add International Equities. Seeking a system that met all their needs, an existing salerio client pointed them in our direction.

Action: We collaborated across the entire operations team to examine and understand each of their challenges, pain points and wish-lists – for both their existing environment and the objectives to be achieved in their planned growth. After our demonstration we arranged for key people to visit a salerio client to see the software delivering real benefits in real time.

Result: A 3 phase plan to enable salerio to serve all their matching, confirmation and settlement requirements, prioritised to suit their growth plans. Phase 1 was complete integration to Omgeo CTM for Electronic Trade Confirmation (ETC) and Electronic Trade Delivery (ETD) for the new international securities desk. Phase 2 completes automation of US Domestic equities and Fixed Income, followed by the final phase to fully automate confirmation and settlement of all Treasury operations.