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.”