Overview
Matcher, a real-time matching and reconciliation solution, helps financial firms automate their growing need to validate data from internal and external sources, including counterparties, trading venues, clearing houses, trade repositories and more. Matcher supports high-volume, one-to-one, one-to-many and many-to-many reconciliations and enables users to customize tolerances and multi-tiered rules for matching.
In automating matching and reconciliation, the solution makes operations teams dramatically more efficient and enables them to focus on resolving exceptions, rather than manually reconciling data. Dashboards, alert and other workflow tools in Matcher facilitate the identification and resolution of exceptions.
The automation provided by Matcher enables firms to respond with maximum efficiency and effectiveness to T+1, RTS6, RTS22 and other compliance requirements.
Industry Challenges
Compliance pressure: Compressing timelines for trade settlement and trade reporting demand automatic trade matching, reconciliation and breaks resolution.
Growing complexity: Proliferation of trading venues, ARMs, CCPs and other market infrastructure complicate reconciliation.
Increased trade volume: Higher volumes create higher operational demands for matching and reconciliation.
User Benefits
Data processing automation: Modern, centralized system for matching and reconciliation delivers operational efficiency.
Customizable parameters: User-defined, multi-tiered matching rules enable customized tolerances for matching.
Transparency and live monitoring: Intuitive dashboards provide live monitoring.
Operational efficiency: Alerts and workflow tools help operations teams detect and resolve exceptions.
Improved compliance posture: Automation throughout the matching and reconciliation process helps firms achieve timely, accurate compliance.
Features & Capabilities
Automated, end-to-end deal workflow
- Real-time trade and data reconciliation
- One-to-one, one-to-many and multi-party reconciliation
- Support for multiple data formats and drop copy
- API connectivity to multiple trade and data sources
- User-defined matching rules, custom tolerance checks
- Real-time monitoring
- Exception management dashboards and resolution workflow
Integrations:
- Trade capture sources
- Regulatory bodies
- Clearinghouses
- Internal systems
Customization & Extensibility:
- User-Defined Matching Rules: Supports customizable, multi-tiered reconciliation rules with user-defined tolerances for matching trades.
- API-First Architecture: Seamless integration with client OMS, execution & clearing services, and trade repositories via FIX, MxML, and FDC3.
- Flexible Data Handling: Capable of processing multiple data formats, including one-to-one, one-to-many, and multi-party reconciliation workflows.
Security & Compliance
- Audit Trails & Reporting: Every transaction and reconciliation action is logged for transparency and compliance audits.
- Role-Based Access Control (RBAC): Ensures that only authorized users can modify matching rules or override reconciliations.
Performance Metrics & Scalability:
- High-Volume Trade Matching: Processes thousands of trades per second, ensuring firms can handle increased operational demands.
- Low-Latency Processing: Optimized for real-time trade and data reconciliation, minimizing delays in break detection and resolution.
- Scalable Cloud Deployment: Can be deployed on-premise or in the cloud, allowing financial firms to scale based on trade volume growth.
Component Breakdown
- Trade Management: Centralized trade matching and reconciliation between internal and external sources (e.g., counterparties, trading venues, clearing houses).
- Application Management: Manages real-time reconciliation and matching through:
- Trade Recon Engine: Identifies discrepancies and validates data integrity.
- Rule Match Engine: Applies user-defined tolerance checks and multi-tiered matching rules.
- Reporting & Alerts: Generates exception reports and notifications for break resolution via integration with an alert system (FDC3 protocol).
Event Processing Flow
- Trade Data Ingestion: The Genesis Matcher receives trade data from client OMS, execution & clearing services via FIX/MxML protocols.
- Data Validation & Reconciliation: The Trade Recon Engine validates the incoming trade data, comparing it against counterparty records.
- Rule-Based Matching: The Rule Match Engine applies user-defined tolerances and matching criteria to determine trade status.
- Exception Handling & Alerts: Any discrepancies or breaks are flagged in real-time dashboards and routed to the alert system via FDC3 for immediate resolution.
- Final Reporting & Compliance: Successfully matched trades are logged, reported, and stored for compliance audits.
