This is the fourth year that the best reconciliation platform or service category has been included in the Buy-Side Technology Awards, and for the fourth straight year, SmartStream has taken home the award. The London-based vendor’s success can be directly tied to the fact that it refuses to sit on its laurels. In February, SmartStream unveiled the latest version of TLM Reconciliations Premium, its flagship reconciliations platform, that can be delivered as-a-service or on premises. With the release, TLM now has consolidated and configured workflows and message support with pre-configured packages. Additionally, this latest upgrade is designed to handle pre- and post-trade reconciliation requirements for organizations of all types and sizes, as the regulatory burden around the globe continues to mount. It also now includes integrated account balancing and exception management for over-the-counter (OTC) derivatives.
“I think because we had a strong position in exchange-traded reconciliations, Dodd–Frank is mainly around standardizing and putting them through central clearing, which takes them a lot closer to an exchange-traded reconciliation,” says Tim Martin, product manager at SmartStream.
According to SmartStream, TLM Reconciliations Premium is the only solution on the market that matches and reconciles transactions of any type, including cash, securities, net-asset value (NAV), intersystem transactions, derivatives—both OTC and exchanged-traded—and general ledger. In September, SmartStream unveiled TLM SmartRecs, which allows for the loading and delivery of documented reconciliation results.
“The best way of looking at it is it’s really just a smarter way of ‘onboarding’ your reconciliations,” Martin says. “It sits on the front-end of your recon capabilities, so we’re not replacing anything and not competing with any reconciliation products. Thus it sits on top of our solution and enables users to onboard new recs faster, while keeping the power of the matching engine unencumbered. We have one of the best matching engines in the market and we don’t want to take away from that functionality, but we do want them to get their recs live, faster.”
Earlier this year, SmartStream won the award for the best sell-side reconciliation platform at the inaugural Sell-Side Technology Awards, proving that it has both sides of the aisle covered.
“SmartStream is delighted to have been named best buy-side reconciliation platform. We’re honored to have been recognized for this award for the fourth consecutive year, and it is testament to our ongoing investment in supporting the buy side with a broader number of reconciliations types on one platform. We’ve been working with these organizations to manage increasing volumes and reduce operational costs. The latest version of TLM Reconciliations Premium solution includes a standard reconciliations package for derivatives, with an enhanced exception layer for reporting. We also recognize the regulations arising from Dodd–Frank and the European Market Infrastructure Regulation (EMIR), and how they place new demands for regular, and in some cases, daily, reconciliations of complex instrument types. We look forward to continuing to deliver product innovations to our customers and the market into 2014 and beyond.”
—Tim Martin, product manager, reconciliations, SmartStream Technologies
James and Anthony talk about the looming Sibos event in Toronto and take a look at some recent M&A activity and blockchain developments in the capital markets.Subscribe to Weekly Wrap emails