A North America base advisor (237 billion AUM) focused on equity & fixed income trading didn’t have an effective way to differentiate between the Shanghai and Shenzen market in China. For each trade, they manually generated and fax specialty trade tickets.
Our help desk assisted the user in fully automating the selection of correct broker instructions in Electra Settlements for both the Shanghai and Shenzen activity based on the exchange code within each market. By incorporating an exchange code into the broker instruction selection logic, we were able to automatically differentiate which broker details to append to the trade instruction.
Once incorporated into their daily workflow, our client was able to free up and reallocate the 40 minutes it took to manually process their Chinese settlement activity to another operational task.
(Brian Prioleau, Manager of Settlement Solutions)