Archer turns to Salerio to add retail trade processing

Archer logo

Boston, May 3, 2022 – corfinancial®, a leading provider of specialist software and services to the financial services sector, announces that Archer, a leading technology enabled service provider for investment managers, has extended their use of corfinancial’s  Salerio® Post-Trade Execution solution to commence trade processing for their retail services.

Headquartered in the Philadelphia region, Archer provides a robust ecosystem of technology and services to the asset management industry. An early adopter of Robotic Processing Automation, Archer continues to deploy advanced technology like Salerio to streamline processes for investment manager clients and their brokers.

“As more investment managers launch new products specifically for retail investors, we’re continuing to invest in technology that creates powerful operational efficiencies for our clients,” said Bob Lage, EVP, Global Head of Product and Technology at Archer. “At Archer, we’re always looking to upgrade our tools in ways that allow our clients to grow their businesses. By integrating Salerio into our trade settlement process, we are adding automation that creates significant efficiencies in matching trades across our clients’ counterparties.”

Archer used Salerio to migrate its institutional clients away from DTCC’s OASYSTM utility in December 2021 and began moving its retail clients in March 2022. This latest move with the retail application of the technology enables asset managers to match trades more rapidly through a centralized service. Specifically, Salerio facilitates enhanced connectivity to banks and brokers via DTCC’s CTMTM utility, including SWIFT messaging – all highly automated and fully integrated into the Archer IBOR, dashboards and reporting.

David Veal, Senior Executive for Client Solutions at corfinancial added: “Archer’s confidence in our Salerio solution is well-received and this recent change reflects the flexibility of our product to adapt to different operational processes, creating a comprehensive, centralized solution that can scale as our clients’ businesses grow.”

corfinancial’s Salerio selected by Man Group to migrate OASYS trade processing

System migration
London, 28 June 2021 – Salerio, the post-execution trade processing solution from corfinancial, has been selected by Man Group, the global active investment management firm, to assist in their migration from the OASYS™ US securities trade processing flows to the DTCC’s Institutional Trade Processing (ITP) CTM™ (Central Trade Manager) platform.

Last year, DTCC announced that it would decommission OASYS™ on 31 October 2021.

Man Group has been automating key post-trade processes, including trade confirmation and settlement for international securities, for many years using Salerio. It was, therefore, the natural solution to manage the migrating US trade confirmation workflow.

Salerio provides seamless connectivity to DTCC’s CTM platform and Man Group was able to manage the transition of US equity trades processing via OASYS to the CTM utility without the need for vendor support.

Antonio Dos Santos, Head of London Investment Operations at Man Group, said: “We wanted to ensure the continuity of our centralised post-trade processing in light of the changes soon being introduced by the DTCC. With Salerio’s rich workflow capabilities, the transition was a simple one and we moved most of our US equity traffic over to the Salerio CTM module with ease.”

David Veal, Senior Executive – Client Solutions at corfinancial, said: “Our post-trade processing solution is intuitive, making it easy for clients like Man Group to manage their operations with confidence. During 2020, we enhanced Salerio to ensure that it fully encompasses the changes being introduced by the DTCC that allows the processing of both US and international post-trade securities through the CTM service.”

corfinancial’s Salerio selected by Man Group as treasury solution for FX processing

Foreign exchange

London, 19 July 2021 – corfinancial today announces that Man Group, the global active investment management firm, has selected its treasury solution, Salerio, to manage the firm’s foreign exchange confirmation, settlement and netting processing.

Man Group uses Salerio to automate the management of securities post-trade processing and is expanding the use of Salerio to incorporate automation of foreign exchange processing. The investment management firm’s international growth has relied increasingly upon Salerio, which automates key middle office processes.

Salerio will also support Man Group’s CLS (Continuous Linked Settlement) netting – a standardised, automated bilateral payment netting service.

Richard Craske, Change Management Specialist at Man Group, said: “We have been a long-term user of Salerio to manage our trade confirmation and settlement.  The high volume of our securities trading – that can reach in excess of 30,000 allocations per day – demands the very best in technology and Salerio has more than proved its worth. We now want to incorporate foreign exchange processing and CLS netting in the same, centralised processing model. With Salerio’s treasury modules in place we can continue to scale our operations efficiently, allowing our teams to focus on handling exceptions.”

Bruce Hobson, CEO at corfinancial, said: “We are delighted to have been selected by Man Group to bring further efficiencies to their post-trade processes. We look forward to Man Group extending the use of Salerio to incorporate FX processing, completing the treasury deployment during 2021.”

corfinancial: Salerio software ready for OASYS decommissioning

December 2020 - corfinancial, a leading provider of specialist software and services to the financial services sector, announces today that its Salerio post-trade system is now fully tested and ready to assist firms in the migration away from DTCC’s legacy OASYS™ platform.

The Depository Trust & Clearing Corporation (DTCC) is a post-trade financial services company providing clearing and settlement services to the financial markets. The firm has confirmed plans to decommission its OASYS™ solution by October 2021, resulting in the compulsory migration of users to its CTM™ processing model in order to continue the automated processing of US domestic trades.

DTCC recently announced that a small number of financial services technology providers have agreed to certify their interfaces in support of enhanced US trade flow capabilities in DTCC’s CTM™ service. Salerio is now a certified solution to facilitate the transition away from OASYS, having successfully completed its conformance testing with DTCC.

David Veal, Senior Executive, Client Solutions, corfinancial: “Working as an early adopter partner with DTCC throughout the second half of this year ensured that we were well prepared for the modifications that they were applying to their CTM utility. Salerio has been updated with the OASYS parity functionality. Our solution is quick to implement, due to our standard model approach, fully functional CTM connectivity and workflow,” added Veal. “Salerio clients that require this functionality ahead of the October 2021 deadline are good to go.”

Baillie Gifford migrates the processing of its futures transactions to corfinancial’s post-trade system, salerio

London, 27 July 2020 – corfinancial, a leading provider of specialist software and services to the financial services sector, reports that Edinburgh-based investment manager Baillie Gifford has migrated the processing of its futures transactions to corfinancial’s post-trade system, Salerio.

Baillie Gifford selected Salerio in 2018 after a review of its proprietary trade matching and settlement practices. The firm decided that it was time to transition its existing operating model to a strategic solution that encompassed the entire trade processing lifecycle. Not only was it looking for a comprehensive, automated exception management system, but also the right people to work with.

Initially, Salerio was used for Baillie Gifford’s equity and bond trading, but since April 2020 futures transactions have been added to the asset class mix.

“The fact that we went live on futures during lockdown bears testimony to the robust nature of the Salerio application and the flexibility of corfinancial’s implementation team,” said Louise Laidlaw, Head of Settlements, Baillie Gifford. “We ran Salerio in parallel with our legacy futures application until we were ready to switch the old system off. Ultimately we had a flawless transition.”

One key benefit for Baillie Gifford of utilising Salerio for futures trades has been the replacement of faxed trade notifications (a requirement from one of its custodians) with more streamlined SWIFT instructions. In a working from home environment, this manual handling proved to be particularly challenging before Salerio came onstream.

“Bringing futures into scope with Salerio has eliminated some time-consuming, manual processing for us,” said Laidlaw. “Moreover, the transition has improved our control, authorisation and visibility of trade matching and settlement for futures transactions.”

Remote working during market turmoil has not affected our clients using Salerio

London, 22 June 2020 - corfinancial, a leading provider of specialist software and services to the financial services sector, reports that its clients have enjoyed uninterrupted trade matching and settlement during lockdown – even when trading volumes suddenly spiked.

 

One example is that of leading investment management company Baillie Gifford. The Edinburgh-based firm was using proprietary post-trade processing systems before choosing Salerio in 2018 and they believe that their smooth transition to remote working conditions, without any interruption to the service they provided to their investors, was testament to the software they had installed from corfinancial.

In March we experienced a huge increase in equity, bond and FX trades. For example, our bond trading volumes more than doubled from the previous month and over a seven-day period we had more than 500 bond trades alone. In April, our bond trading volumes went up even further, by almost another 50 percent,” said Louise Laidlaw, Head of Settlements, Baillie Gifford. “It didn’t matter how many trades came through; we knew we had the ability to cope using Salerio. Working remotely, even with these exceptional trading volumes, has had no impact on our operations whatsoever. The transition to home working was seamless and this theme came across strongly in feedback from my Settlements team.”

Since lockdown, trade settlement teams have needed secure software that enabled them to adapt to both multiple working locations and unique market conditions. Salerio was designed to handle unprecedented surges in trading volumes even while operating remotely.

Bruce Hobson, Chief Executive at corfinancial. “The system has been able to provide a remote service at the level that gold standard clients like Baillie Gifford expect, and this standard has not faltered during the unprecedented market conditions we are faced with today.”