News

GoldenTree Takes Automation Plunge

November 01, 2004

GoldenTree Asset Management is implementing the Securities Transaction and Asset Reconciliation System, STaARS, from Electra. The platform automates reconciliation among prime brokers and custodians.

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Wells to Harness Data Platform

October 11, 2004

Wells Capital Management, the asset management arm of Wells Fargo Bank, has licensed RecCollect DataPIPE, a custodian data collection and normalization platform from Electra. The company says it expects to be able to do a daily cash and position reconciliation, rather than weekly or monthly.

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Investment Manager Signs On to Recon System

March 07, 2004

Richmond Capital Management has implemented Electra’s Securities Transaction and Asset Reconciliation System (STaARS) application to automate the custodial reconciliation process. Richmond Capital was replacing a manual process with the application.

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Electra Releases Investigation, Case Management Module

January 11, 2004

Electra Information Systems has launched an investigation and case management module for the STaARS reconciliation application as an optional add-on enhancement to STaARS 6.0, which will be released at the end of January 2004.

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Pzena Gives Thumbs Up to Recon. System

October 26, 2003

Pzena Investment Management has agreed to use the Securities Transaction and Asset Reconciliation System (STaARS) and Custodian Reconciliation Data Collection Service (RecCollect) from Electra. Pzena was seeking a reconciliation system, as it was manually reconciling holding statements to custodian statements.

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New York Investment Firm Weighs Recon Vendors, Trade Matching

September 21, 2003

Pzena Investment Management plans to automate reconciliation and is deciding between products manufactured by Electra and FMC. Pzena said reconciliation is a very manual labor intensive process and an automated system will allow Pzena to immediately locate exceptions, a time-consuming process under the current back-office scheme.

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WestLB Sub Installs Electra Software to Digitize Recon, Cash

September 07, 2003

WestLB Asset Management has licensed and installed Electra‘s STaARS application and subscribed to Electra’s RecCollect service to automate cash and securities reconciliations. The benefits of the application and service include a more efficient reconciliation operation, and enable companies to work with their custodian to correct errors as early as possible.

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Aronson + Johnson Halts Automations Project Citing Year-End Crunch

February 23, 2003

Aronson + Johnson + Ortiz has halted a plan to further automate its back office. Last year, the investment manager went live with Securities Transaction and Asset Reconciliation System (STaARS) and Custodian Reconciliation Data Collection Service (ReCollect) from Electra.

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Reconciliation Systems Deliver Unseen Savings

October 14, 2002

Automated reconciliation systems may not enjoy the style and sparkle from front-end trading and decision-support tools. In a market and economy in which investment management firms are seeking any way possible to cut expenses, technologies to manage the complete trade lifecycle are attracting the attention of an increasing number of buy-side firms.

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Pru Asset Management Unit Automates Reconciliation

July 28, 2002

The Prudential Financial asset management business has automated security-trade notification messaging via Electra. Prudential Investment Management (PIM) in 1999 began overhauling equity and fixed-income processing via a system consolidation to support growth. PIM signed on for the Securities Transaction and Asset Reconciliation System (STaARS).

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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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