Trading and brokerage firm China Merchants Securities (CMS) has selected Duco Cube, a reconciliation and matching product from London-based technology provider Duco.
Launched in 2013, Duco Cube is a hosted reconciliation service that enables firms to manage the reconciliation and matching of end-of-day data between brokerage or trading firms and exchanges, and allows static data cleanup such as Legal Entity Identifiers (LEI) or instrument set-up data.
It also eliminates manual processes and reduces dependency in order to simplify audit points across finance, brokerage operations and compliance departments.
“We are delighted to work with CMS as it seeks to expand its footprint on the London Metal Exchange,” says Patrick Thornton-Smith, Duco chief marketing officer. “The range of business cases across these new clients is wide, covering regulatory, accounting, finance, operations and banking reconciliation. Futures brokerages, especially those like CMS that are just setting up, are opting for Duco to enable them to keep costs and risk down as their business grows.”
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