CheckFree can deliver a workflow solution designed to meet client demand to address the explicit requirements of over-the-counter (OTC) derivatives processing, using the new solution. CheckFree TradeFlow can automate the confirmation process and associated payment messages over SWIFT to enable derivatives confirmation and settlement processing.
CheckFree TradeFlow 2.2 can provide operational process improvements, including pre-packaged industry standard workflows for confirmation and settlement of OTC derivatives. The expanded solution is designed to make a single, post-trade process possible and to allow all asset classes and exceptions to be managed in a single solution.
The trading solution can address the issue of operational capacity in processing growing volumes and coping with the precise and complex nature of OTC derivatives. The solution focuses on an operations ability to confirm trades to ensure contractual protection and automate processes to remove operational bottlenecks. By combining OTC automation and control with proven scalability, CheckFree TradeFlow can help mitigate clients’ expense of finding and retaining skilled operations staff to manually handle increasing volumes.
Geoff Harries, director of securities product management at CheckFree, said: By managing the post-trade process across all asset classes, CheckFree TradeFlow enables clients to control spiraling operational costs. Incorporating OTC derivatives processing into the CheckFree TradeFlow environment will generate numerous business benefits for our clients, including developing the operational capability to support business growth and increase in volumes. To address current and projected OTC volumes, a global asset management firm has already purchased the new CheckFree TradeFlow OTC module to reduce the manual processing it has endured in the confirmations process.
