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| Trade Settlement Service |
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Industry challenge – Industry average derivative settlement fail rate is 6-8%. This is mainly due to a surprising number of unrecognized trades leading to non receipts and unapplied receipts, trading entity mismatches result in payments flowing to incorrect bank accounts and day counts / business days / accrual days / reset days lead to a multitude of unapplied receipts and non receipts. Resolving fails post settlement is many times more expensive than attending to discrepancies pre settlement.
Trade Settlement Service – eClerx Solutions
Pre Settlement:
- Confirm anticipated cash flows and settlement instructions across all products in advance of value date
- Provide initial investigations into breaking cash flows
- Escalations categorized into front office, middle office, sales support and settlement issues for client resolution prior to value date
Post Settlement:
- Gather / Provide information to counterparts facilitating resolution for all fails related to unapplied receipts, confirmed non receipts, unapplied payments and bounced funds.
Trade Settlement Service – eClerx Benefits:
- High value cash flows prioritized for action
- Counterparty communication – eClerx aggresses C/Ps to confirm cash flow
- Exception handling – initial investigation conducted by eClerx which allows MO to concentrate on critical activities
- Comprehensive MIS packages
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