Digiterre Ltd, a London based buy-side software house that has been successfully developing and deploying bespoke and product based solutions to the European hedge fund industry for several years, announces it has successfully deployed its dConfirm product to Augustus Asset Managers Limited who are now using the application to manage over 1000 new OTC derivative trades a month.
dConfirm improves STP capabilities for processing OTC derivative transactions, making it easier for operational staff to spend more time dealing with counterparties to close unconfirmed deals.
The front office can electronically submit deals from any portfolio management system into dConfirm through the use of its FIX or FpML adapters. Middle office can enrich this information by directly emailing supporting collateral such as scanned documents, ISDA agreements and Bloomberg screen-grabs straight to the application. dConfirm understands emails and will automatically match and store these details with the right trade.
Middle Office users are provided with a lightweight but very powerful interface giving them a real-time view on all activity and the ability to search and drill down trades in seconds using multiple qualify indicators. Custom reports can be created, saved and shared amongst users to, for example, show all unconfirmed deals by counterparty and age. Management is also able to create Key Performance Indicators (KPIs) and drive automatic alerts from them, meaning they spend less time querying yet another system on a daily basis. The system is highly transparent and auditable, something on which investors as well as regulators are increasingly placing greater emphasis.
Michael Allen – Augustus’s coo comments on why they chose dConfirm :
"We wanted an application that replaced our existing database and could fit easily within our current infrastructure to perform a specific set of functions, at a cost-effective price."
Ravi Sawhney – Digiterre’s head of Trading Solutions comments
"It was a pleasure working with a forward-thinking manager like Augustus to implement our market leading product, dConfirm , in just a matter of weeks. We are expecting continued uptake of this application not only from alternative investment houses but traditional asset managers who are increasingly trading in OTC derivative products."
