Matching of Listed Derivatives
Ensure daily alignment across front, middle, and back office systems.
Requirements
Verify trade reporting, positions, and pricing.
Acquire the flows generated by reconciliation systems, respecting the specific deadlines and formats, and provide automatic alerts to notify process owners via email of the availability of spreadsheets with the results
Apply filters to enable comparisons
Identify homogeneous perimeters and normalize data attributes
Orchestrate the process
Respect dependencies and constraints with maximum timeliness
Reorganize by owner and market
Consider the different requirements depending on the systems involved in the reconciliations and the departments responsible for the verifications
Allow whitelist and drag & drop
Set tolerance thresholds and enable the ability to “carry forward” mismatched data to subsequent days
Solution
Scalable and fully traceable end-to-end reconciliation
Capabilities
Automatic ingestion and normalization of 2,500 files/day (≈ 600 MB)
Multi-key matching (counterparty, quantity, sign, reason, countervalue) with dynamic thresholds
Declarative orchestration with alerts on critical steps
Web dashboard with drag-and-drop, whitelist, and interactive filters
Excel/CSV reports and automatic email notifications
Multi-key matching (counterparty, quantity, sign, reason, countervalue) with dynamic thresholds
Declarative orchestration with alerts on critical steps
Web dashboard with drag-and-drop, whitelist, and interactive filters
Excel/CSV reports and automatic email notifications
Results obtained
Over 3 million records processed in less than 15 minutes, 8:00 cut-off respected
False positives reduced by 90%; only materially relevant anomalies shown on dashboard
Zero-touch process, complete audit trail, and improved compliance
Analysis and remediation accelerated by 80%; collaboration between Front, Middle, and Back Office
Instant distribution of results to Derivatives & Risk Management teams
False positives reduced by 90%; only materially relevant anomalies shown on dashboard
Zero-touch process, complete audit trail, and improved compliance
Analysis and remediation accelerated by 80%; collaboration between Front, Middle, and Back Office
Instant distribution of results to Derivatives & Risk Management teams
Challenges
Big data, diverse sources, and zero false positives
Big data & morning cut-off
Over 3 million records to reconcile daily and a closure SLA before 08:00: the process must be extremely high-performing and parallelizable
Heterogeneous sources & complex mapping
Flows from sources such as XTP, Murex, Tbricks, SIRE, ARMUNDIA Asset Shaper generate different formats and schemas that require normalization, enrichment, and governance of matching keys
Audit-proof accuracy and tracking
Even minimal discrepancies can impact P&L and margins; zero-false-positive controls and a complete audit trail are needed to satisfy auditors and regulators
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