Electra Adds Pending Trade Data to Settlements Solution

Trade failures create a variety of issues, including market risk, penalties and liquidity constraints. The FailSafe platform improves the probability of timely trade settlements and allows users to identify and quantify their exposure and expedite the resolution for any failed or pending trades. Electra executive director Ian Danic says the upgrade automates the tedious process of collecting failed and pending trade data and formatting it into a standardized view.

FailSafe's reporting functions on failed and pending trades can be made available through the out-of-the-box reports or customized formats. The collection and normalization of the data for pre-settlement trades allows clients to determine the specific issues on T+1 and track the progress, decreasing the likelihood of duplicative work on a single trade.

"Electra is a trusted partner of GoldenTree's and we rely on its sophisticated solutions to accurately and efficiently manage our post-trade processes," says John DeMartino, director of operations at GoldenTree Asset Management. "The firm's comprehensive data acquisition and aggregation methods, as well as their internal subject matter expertise, ensure we are able to review, address and report on any pending or failed trades while streamlining the process."

FailSafe provides buy-side operations, settlements and reconciliation professionals with a secure aggregation system that exposes failed matches and trades, providing protection from issues such as market risk, penalties from fails, instability and liquidity constraints.