Transaction Processing Systems
Software enables scalable OTC derivatives trade processing.
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Press Release Summary:
Designed for connectivity and post trade processing over DTCC Deriv/SERV central matching system, TradeFlow(TM) v2.2 automates confirmation process and associated payment messages over SWIFT. It focuses on operations ability to confirm trades to ensure contractual protection, agree on cash flows to guarantee on-time and accurate payments, and automate processes to remove operational bottlenecks. Software helps manage, monitor, and measure flow of securities and cash transactions.
Original Press Release:
CheckFree Announces CheckFree TradeFlow 2.2 with Robust, Scalable OTC Derivatives Trade Processing
ATLANTA and LONDON, Sept. 17 -- CheckFree Corporation (NASDAQ:CKFR) today announced the availability of CheckFree TradeFlow(TM) 2.2, the latest version of its post-trade securities transaction process management solution. With this release, CheckFree delivers an advanced workflow solution designed to meet client demand to address the explicit requirements of over-the-counter (OTC) derivatives processing. Specifically designed for connectivity and post trade processing over the DTCC Deriv/SERV central matching system, CheckFree TradeFlow can automate the confirmation process and associated payment messages over SWIFT to enable robust and scalable derivatives confirmation and settlement processing.
"The explosion of the OTC derivatives market has overwhelmed the ability of traditional operations to handle increased trading volumes. Over the last year in particular that growth has put unusual stress on the middle and back office. Solutions like CheckFree TradeFlow that meet these needs alleviate the pressures of OTC derivatives processing and streamline the end-to-end trade processing of the OTC derivatives market," said Brad Bailey, Senior Analyst, Aite Group.
Following industry demand and increased use of OTC derivatives for performance enhancements, leverage and hedging, CheckFree TradeFlow 2.2 can provide operational process improvements, including pre-packaged industry standard workflows for confirmation and settlement of OTC derivatives. The expanded solution is designed to make a single, post-trade process possible and to allow all asset classes and exceptions to be managed in a single solution.
"By managing the post-trade process across all asset classes, CheckFree TradeFlow enables clients to control spiralling operational costs," said Geoff Harries, director of securities product management, CheckFree. "Incorporating OTC derivatives processing into the CheckFree TradeFlow environment will generate numerous business benefits for our clients, including developing the operational capability to support business growth and increase in volumes. To address current and projected OTC volumes, a global asset management firm has already purchased the new CheckFree TradeFlow OTC module to reduce the manual processing it has endured in the confirmations process."
CheckFree TradeFlow 2.2 addresses the issue of operational capacity in processing growing volumes and coping with the precise and complex nature of OTC derivatives. The solution focuses on an operations ability to confirm trades to ensure contractual protection, agree on cash flows to guarantee on-time and accurate payments and automate processes to remove operational bottlenecks. By combining OTC automation and control with proven scalability, CheckFree TradeFlow can help mitigate clients' expense of finding and retaining skilled operations staff to manually handle increasing volumes.
CheckFree has participated in the SWIFTNet FpML initiative which is focussing on the notification workflow between investment managers and custodians to advise of contracts.
About CheckFree TradeFlow
The CheckFree TradeFlow solution can allow organizations to efficiently manage, monitor and measure the flow of securities and cash transactions across the enterprise and through counterparties and settlement agents, while minimizing operational risk and increasing operational efficiencies. For more information about CheckFree TradeFlow, visit www.checkfree.com.
About CheckFree (www.checkfreecorp.com)
Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable financial services providers to offer the convenience of online banking, and along with billers, to offer the convenience of receiving and paying household bills online, via phone or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to hundreds of financial services organizations, which manage about $1.8 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two- thirds of the nearly 14 billion Automated Clearing House transactions in the United States. The division also provides financial institutions and other organizations with payment processing and consulting, reconciliation and exception management, fraud and risk management, cash and logistics management, and compliance software and services.
Source: CheckFree Corporation
Web site: http://www.checkfreecorp.com/
