A Los Angeles based Hedge Fund manager was manually posting Spot FX transactions into their accounting system for restricted currencies. Because Spot transactions in restricted countries are executed by the prime brokers, managers are relying on the bank data to update their accounting system. Our Electra Reconciliation tool was able to fully automate their posting of the Spot Transactions. Based on the import specifications of the client’s accounting system, we built a custom extract. The exported report captured both legs of the Spot transaction and automatically routed them to the accounting system.
(Gabriel Khanan, Director of Consulting Services)