TRADExpress Client Clearing
Functional overview an results
Trade capture & connectivity: Offers connectivity, normalization and reconciliation across a large number of trading venues and clearinghouses, in different time zones for a wide spectrum of asset classes, in multiple currencies. Streamlined straight-through workflow and exception handling, from trade capture to settlement.
Trade & position management: Trades and positions can be monitored and managed in real time via a web interface and API. It is also possible to set rules to perform automatic actions. All trade and position management functions are covered, including bunched trades, allocations, give up/ take up, and many more.
Real-time risk management: Facilitates real-time risk management with pricing of instruments, valuation of portfolios, risk margining with stress testing, back testing, and default fund management. Supports multiple simultaneous risk models and cross-asset margining. Shows risk exposure towards both clients and the CCPs in real time. Offers ability to replicate CCP margin calculations based on SPAN® and VaR, and allows clients to perform what-if evaluations.
Collateral management Management of collateral and margins in multiple currencies, reducing the reserved capital requirements by crossmargining between markets, referenced to a single base currency. Conforms to regulatory requirements for collateral segregation, including ISA, OSA and LSOC, and management of excess collateral. Supports transfers of cash and non-cash collateral in multiple currencies. There is no restriction on what collateral instrument types can be managed.
Settlement: Flexible and configurable settlement logic provides both gross and net settlement of cash and securities. Handles cash settlement for both payments and collateral. Transfers available via API or file transfer. Communicates with settlement and payment systems via SWIFT-standard and proprietary gateways.
Reporting: The report generator can be used for creating tailored reports for multiple purposes. A report may be generated at pre-determined intervals or on an adhoc basis. The reports are disseminated via web or fed to downstream systems. Supported formats include PDF, Excel, and CSV.
