Trade confirmation sits at the heart of any post trade execution processing solution. Confirmation is the first and arguably the most important element of the post trade lifecycle. The costs of getting it wrong, both financial and reputational, cannot be underestimated. To that end, not all confirmations are dealt with in the same way by the many different platforms and methods available to the industry.
In building salerio we took key architectural and design decisions that all its functionality and capability would be built around a central hub, which driven by a very rich workflow exceptions management engine would integrate seamlessly into an array of industry wide confirmation platforms, such as Omgeo CTM, Omgeo TradeSuite, Omgeo Oasys and SWIFT GETC.
With all these various connections salerio provides a truly global solution to trade confirmation, removing the need for multiple systems and/or workstations. User involvement is only required when an exception arises. Otherwise, salerio manages each confirmation activity automatically, quickly and accurately.
salerio allows for exact actions to be taken for specific types or classes of confirmation. Rich routing logic means users can transmit transactions to specific confirmation platforms or cater for specific locations, no matter the confirmation path individual transactions must take to settle.
For instance, at a basic level, all US trades can be sent to Omgeo Oasys and all international (non-US) trades can be sent to Omgeo CTM. Yet, in many cases the operations world is not that straight forward. Irrespective of which combination market execution is to be completed, or where the trading desk or broker are located. salerio will route trades efficiently to the correct confirmation venue every time.
Once individual trades has been routed to the various confirmation platforms, salerio will then monitor continuously any trade status updates and elevate proactively any exceptions to the workflow for immediate investigation. If any exceptions do arise, then they are presented on the same dashboard allowing the users to have a real time view of their global trading activity.
salerio applies the same advanced functionality to the foreign exchange confirmation process. It has comprehensive processes for dealing with all foreign exchange instruments including spots, forwards and non-deliverable forward (NDF). Whether you settle bilaterally or via CLS, salerio will keep you apprised of any issues via the advanced exception management functionality.