Creation of Post-Trade Middle Office Infrastructure
Client was looking to develop/enhance its capability to provide institutional trading for Cash Equities, Equity Derivatives (CMTA), Loans, and Fixed Income products. An automated Middle Office post trade processing capability was required to handle the anticipated volume of equity trades from institutional clients.
Westwater created a strategic vision for the Middle Office, then helped implement that vision with a multi-phased project over a 1 year period. Westwater developed business and technology requirements for the following MO functions: Allocations, Sub-allocations, Confirmations, Affirmations, Exception Processing. Westwater developed the following components: 1) Workbench to monitor & process exceptions 2) Matching engine to match trades and allocations 3) Allocation receivers 4) In-house TRACE reporting
The client is now able to seamlessly receive and match electronic and file-based allocations to trades, trade across asset classes, and monitor and manage Middle Office exceptions.
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