News

Anna Lyudvig, Wall Street Letter

Wall Street Letter highlights how Electra Data offers Cordium an alternative solution to existing account aggregation connections, reducing manual processes and the associated costs and risks. The article also mentions how the partnership helps to extend Electra’s reach to include the vast collection of compliance and trading data currently used by Cordium clients.

By Eugene Grygo, FTF News

Back-office financial technology vendor Electra Information Systems reports that it has opened an office in St. Petersburg, Fla., to provide itself with more options for operations, and to provide its clients with more business continuity planning and disaster recovery (BCP/DR) support. Andy Gnibus, Electra’s manager of data services, will oversee the office, which will initially have four full-time staff, officials say.

ISS Magazine

Electra Information Systems, a provider of software solutions for the asset management industry, has opened an office in St Petersburg, Florida, headed by Andy Gnibus, manager of data services. It describes the move as a strategic investment to diversify geographical locations for the operations team. This will support the ongoing business continuity planning for the global firm and will further protect clients from unpredictable threats, such as natural disasters or other potential disrupters that have potential to impact specific regions.

By Anna Lyudvig, Wall Street Letter

Electra Information Systems (Electra), a provider of software solutions for the asset management industry, has expanded its US operations with the opening of the office in St. Petersburg, Florida. Andy Gnibus, manager of data services, will lead this office for the firm. The opening of the Florida office was a strategic investment to diversify geographical locations for the operations team. This will support the ongoing business continuity planning for the global firm and will further protect clients from unpredictable threats.

By Anna Lyudvig, Wall Street Letter

Electra Information Systems (Electra), a provider of software solutions for the asset management industry, has released Electra Reconciliation Dynamic Snapshot, a real time month-end reconciliation feature. Gabriel Khanan, director of consulting services at Electra Information Systems, said this component gives users the ability to re-reconcile a final month-end reconciliation incorporating real-time transaction and cash balance changes.

By Ryan Boysen, FTF News

Dynamic Snapshot, the latest addition to Electra Information Systems’ Recs platform, is intended to help firms automate secondary, month-end reconciliations. For some reconciliations professionals working in post-trade operations, it can seem like some jobs just don’t end when they’re supposed to. This is especially true when it comes to performing month-end reconciliations, where back-dated transactions from prime brokers and other counterparties can often come through days or even weeks after the actual end of the month, forcing Recs personnel to go back and update the previous month’s books and records.

By Dan DeFrancesco, Buy-Side Technology

Electra Information Systems has announced the release of Dynamic Snapshot, a new part of its Electra Reconciliation platform that allows users to re-reconcile month-end reconciliation with real-time transaction and cash balance changes. Dynamic Snapshot finds back-dated transactions and applies them to the previous period's reconciliation. This allows late-reported items to be automatically integrated into the reconciliation record, therefore ensuring asset value calculations are accurate.

John Landry, Markets Media

What were the major themes of your business in 2014?

Our primary focus in 2014 was helping buy-side managers adapt to a changing environment, from regulatory mandates, including tighter settlement deadlines, to the continued increase in transaction complexity and volume to and increased investor due diligence of internal controls. Electra continued to expand the depth and breadth of our Electra Data network while producing major new releases of FailSafe and Fee Billing.

By James Rundle, Waters Technology

It’s been a busy few years for Electra Information Systems. From a large-scale implementation with AQR—covered extensively by Waters in 2013—through to forming an alliance with Eagle Investment Systems and hiring a new COO in the form of Scott Rhodes, the New York-headquartered firm has been making waves. Thanks to its flagship Electra Reconciliations platform, Electra has unseated long-time winner SmartStream to take the honors in the best buy-side reconciliation platform category in this year’s awards.

Ian Danic, Wall Street and Technology

Many firms consider their reconciliation process fully automated, but "automated" doesn't necessarily mean "efficient."

Have you considered the costs associated with an inefficient back office? Functions such as settlements, data management, reconciliation, performance measurement, fee management, corporate actions, and collateral management play a significant role in determining an investment management firm's profitability and credibility.