Electra Reconciliation — Make Life Easier with Absolute Value Sorting

August 09, 2017

This is particularly useful when finding offsetting transactions, or when you want to line up the trade values that came with the wrong perspective.

There are two ways you can do it.

  • The easiest way is to left-click the column header while holding the [Alt] key.  This will toggle Abs() sort on this column.
  • You can also use a tickbox in the SmartSearch Column Setup (right-click column header and select Column Setup tab to get there):



Whichever way you set the Absolute sort, it will be saved when the SmartSearch is closed, just like the SmartSearch column layout. Please note that the Absolute sort feature is available in Electra Reconciliation Version 5.6.03 and above.

(Alexander Musayev, Senior Implementation Consultant)

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Electra Blog Posts

Reducing Risk in NAV Valuations

July 23, 2017

We recently demonstrated our award-winning Electra Reconciliation solution to a current Electra Data+ client to hear their thoughts on our product and how it compares to their current reconciliation process, which includes a commercial reconciliation product, Excel spreadsheets and Microsoft Access databases. During the Electra Reconciliation demonstration, we stopped to highlight our NAV reconciliation capabilities. Today, this client performs the NAV reconciliation in an Excel spreadsheet because their current reconciliation solution lacks support for this important month-end requirement. The client shared details about the many challenges they face when collecting NAV data from their custodians and using Excel to reconcile it. They are manually gathering and populating NAV data within multiple Excel spreadsheet tabs with additional data manipulation necessary to accommodate their hard-coded file layout and custom macros. The client understands that each time someone handles the data manually, they are introducing additional risk to an Excel-based process that is already fragile. With these risks in mind, our client has asked Electra to expand their use of the Electra Data+ service to not only include the cash, transactions and positions data being collected today, but also audited NAV data.
(Todd Sloan, Senior Vice President — Electra Reconciliation)

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Linedata And Electra Integrate Reconciliation And Fund Accounting Platforms

June 06, 2017

Electra Information Systems and Linedata have announced the integration of Electra Reconciliation and Linedata Mfact, Linedata’s global fund accounting solution.

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Electra Data+ — Facilitating Complex Client Cost Reconciliations

May 08, 2017

Electra Data+ facilitates our clients’ cost reconciliations in a number of different ways. One of the bigger challenges occurs when the client favors a Position Report and the required cost basis data element is not included.

A recent example involves a client of both our Electra Data+ and Electra Reconciliation (eSTaARS) services. While they preferred the trade date based FTP Report that Electra receives for quantity/MV matching, this client requires cost basis as a data element whenever possible. The hitch being that this data is only available on a settlement dated .csv file received from the UBS PaineWebber website.

By using the eSTaARS combine feature and tweaking the mapping document of each file from our standard mapping, we were able to extract the cost basis data from the settlement file and combine it with the trade date based quantity/MV report and successfully matched it against their manager records. (Chris Koumou - Project Manager, Data Services)

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Electra Data+ — Real-time Cash Balance and Trade Files

April 20, 2017

It’s becoming an increasingly popular request from clients to start receiving Real-time Cash balance and trade files throughout the day.  Besides the ability to reconcile any previous days’ holdings, cash and transactions, there has been a push to stay on top of the current trading activity and cash movement throughout the day.  Not every custodian and brokerage house provides real-time file availability, though we’ve found the larger institutions do and more are following. (Andy Gnibus, Manager of Data Services)

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Electra Billing — Simple yet Powerful Tools

March 13, 2017

An Institutional manager using Electra Billing called our support team this week to inquire how to setup a new client with an unusual fee arrangement. Their new client is requesting to be billed quarterly but wants the fees calculated monthly for each of their accounts.  We showed the client how to use the billing cycle settings combined with the invoice cycle settings to meet the needs of their new client. This capability makes it easy for clients to handle differences in frequency of fee calculation and frequency of invoicing. They were relieved to learn about this simple, yet powerful option. (Doug Fritz - Product Manager)

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Electra Settlements — Magic of Customizable Field Logic

February 24, 2017

A new Canadian and U.S. Investment Manager, 42 billion AUM, trading global equity and fixed income instruments wanted to supply their own commission rate calculation into Electra Settlements for further downstream processing to the Oasys.

Problem:

The commission rate calculated for Oasys at the block and allocation levels didn’t match the OMS commission rate calculated internally by our client and the broker.  The broker reported the difference between the 8 decimal places on Oasys, verses the 3 decimal places on their books.  One of the new client’s reasons for purchasing Electra Settlements was to resolve this longstanding issue.

Example:

Oasys commission rate = 0.01500096

Brokers expected commission rate = 0.015

Resolution:

Customizable field logic allows clients to provide their own calculated commission rate (post-rounded 4 decimals) used for downstream Oasys matching. Instead of utilizing the standard commission rate calculation logic (pre-rounded 9 decimals), this allows the brokers to auto-match on Oasys at the block level without any manual intervention.
(Brian Prioleau, Manager of Settlement Solutions)

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Electra Reconciliation — ISO Recon Data

January 10, 2017

In many cases, ISO reconciliation messages (MT940/950, 535, 536) are very limited in the information they provide. Consider the transaction type "NMSC" (miscellaneous) found in a MT940/950. This particular transaction type could mean any number of things and with the optional transaction description often blank, operations staff must research the transaction on the bank's website to decipher its meaning.

Many Electra clients have abandoned ISO reconciliation messages in favor of our more robust data feeds. One such client conducted an exhaustive cost-benefit analysis that detailed how much time their portfolio accountants spent researching ambiguous ISO reconciliation data. That firm concluded that the additional cost to have Electra manage their data collection activities was far cheaper and came with substantially less risk than having portfolio accountants spending time on bank websites filling in the missing gaps. For them, the ROI was immediate once they understood the hidden costs of using ISO reconciliation data.
(Todd Sloan, Senior VP)

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Electra Settlements — Communicating the match status of an allocation back to an OMS

December 02, 2016

A Boston-based investment advisor (10 million AUM) focused on fixed income trading wanted to report the final trade status back to their OMS once they’ve matched locally with their brokers using the Electra Settlements matching module.  They placed a call to our helpdesk asking for help.

Our helpdesk assisted the client in selecting the appropriate options in Electra Settlements to automatically generate a trade status/update file in any OMS proprietary format on an intra-day or EOD basis.

Sample data elements used for a trade status message sent back to the OMS:

  1. Trade Reference
  2. Trade Date
  3. Settlement Date
  4. Settlement Amount
  5. Match Status

Problem solved!

(Tish Wang, Product Analyst — Electra Settlements)

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Taking a bow for the Triple Crown!

November 17, 2016

Electra Information Systems Wins Best Reconciliation Platform/Service in the Buy-side Technology Awards 2016

Electra is closing 2016 with another win! Adjudicated by industry experts, the much lauded Buy-side Technology Awards are no cakewalk to victory. Winning this year’s Best Buy-side Reconciliation Platform/Service Award is as much an honor as it is a rededication for Electra to stay at the forefront and continue in our mission to bring a transformative reconciliation solution to today’s marketplace via state-of-the-art features, creative partnerships and above all, client feedback.

With this third and final win in hand, Electra Reconciliation has swept the industry’s Triple Crown series in 2016. Now, our sights are set on getting ahead of new challenges in 2017. Stay tuned!

(AmyClare Gutowsky, Senior Marketing Analyst)

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Client Testimonials

Tammy L. Johnson, Globeflex Capital L.P.
We’ve now been a client for over 11 years and the relationship remains strong. Electra keeps us well informed, continuously innovating and adding functionality. Electra provides information on the latest versions which allows us to take advantage of the latest enhancements as our business requirements change and evolve.
Tammy L. Johnson, Globeflex Capital L.P.

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