Sell-Side Technology Awards 2016: Best Sell-Side Reconciliation Platform — SmartStream Technologies
SmartStream has won this category every single year.
Challengers have come and gone and attempted to wrest away SmartStream's crown, but for the time being at least, none has come close to unseating the incumbent market leader.
One of the trends that emerged in the wake of the global financial crisis is that of cost reduction, a theme that if anything has become more pressing and pervasive since 2008 as capital markets firms of all sizes continue to seek ways of reducing their fixed operating costs. When it comes to reconciliations, a business process residing in the dark recesses of the back office, firms need to manage the various functions around the process as efficiently and transparently as possible, even though such functions tend not to provide buy-side and sell-side firms with a competitive advantage. Given their cost-reduction and resource allocation concerns, firms are increasingly looking to share as much of the technology and processing burden as possible, themes that SmartStream addressed head on when, during the course of last year, it unveiled its Centre of Excellence (CoE) and confirmed in November that it already had 20 user-firms onboard with the utility.
The CoE supports the entire reconciliation process, including the hosting of SmartStream’s TLM solutions within its OnDemand offering, monitoring the operating environment, loading data, and ensuring auto-matching is completed within agreed service-level agreements (SLAs), as well as performing manual matching and break resolution. According to SmartStream, working in partnership with its CoE has allowed financial institutions to realize some impressive benefits: Some have seen match rates in excess of 97 percent, while exceptions have been reduced in some instances by as much as 67 percent. One such firm, a large French investment bank, selected the CoE to onboard TLM Reconciliations Premium, SmartStream’s flagship offering, for its internal and external brokerage, and for its exchange-traded derivatives reconciliations.
Looking to the future, SmartStream is planning on extending the remit of the CoE’s managed service to include not only reconciliations processing but other important TLM solutions, such as TLM Corporate Actions and TLM Cash & Liquidity Management.
SmartStrteam, thanks to its domination of the best sell-side reconciliation platform category over the years, also wins this year’s best sell-side technology provider of the year award (see page 61), which it shares with Numerix, the first year that the final and most prestigious category of the Sell-Side Technology Awards has been shared.—VBA
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024 winner’s interview: S&P Global Market Intelligence
S&P Global Market Intelligence won two categories in this year’s Waters Rankings: Best enterprise data management (EDM) system provider and Best reporting system provider, which is the subject of this interview.
Sell-Side Technology Awards 2024 winner’s interview: Broadridge
In this year’s Sell-Side Technology Awards, Broadridge Financial Technology won Best outsourcing provider to the sell side thanks to its hugely successful business process outsourcing offering
Waters Rankings 2024: Best market risk solution provider (highly commended)—FactSet
Product/service: FactSet Multi Asset Class Risk Solutions
Waters Rankings 2024: Best portfolio management system provider (highly commended)—FactSet
Product/service: FactSet PM Hub
Waters Rankings 2024 winner’s interview: IPC Systems
IPC Systems won the Best cloud infrastructure provider category in this year’s Waters Rankings. Tim Carmody, CTO of IPC, discusses his firm’s recent success in the rankings
Waters Rankings 2024 winner’s interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.