Exchange-Traded Derivatives Support for Leading US Investment Bank

Executive Summary

eClerx deployed 100+ resources for a leading US investment bank across its global locations to provide end-to-end support across agreement management, matching and clearing, reconciliations, static data maintenance, exchange fees allocations and billing and brokerage.
Challenges
A leading US investment bank with global operations was experiencing rising operational risks and non-standard processes in its existing listed derivatives operations spread across regions and desks.

Solutions
  • Managed end-to-end execution of agreements on global systems: EGUS, Omgeo, GPS, eGains
  • Developed and deployed a clearing control dashboard for easier tracking and to ensure outstanding trades were escalated in a timely fashion

Benefits

  • Trade day matching and clearing; average 98% matching and 97.7% STP rate
  • Approximately¬†40% reduction in provision balances, 64% reduction in billing cycles