Client Challenge
StoneX provides institutional access to 39 derivatives exchanges, 175 foreign exchange markets, nearly every global securities marketplace and bi-lateral liquidity venues, as well as retail market access via FOREX.com and City Index, among other platforms.
The firm provides institutional-grade digital platforms, high-touch service and market intelligence to help clients pursue trading opportunities, make investments efficiently, manage market risk and improve their business performance.
With StoneX, clients have one trusted partner to access markets worldwide. Like many financial markets firms, StoneX’s post-trade operations were siloed by asset type, most notably equity versus fixed income, and by the use of multiple OEMS systems.
As a result, the technologies used to support the middle and back-office workflows were not integrated, creating a series of operational and financial risks, and were resource and cost-intensive to manage.
The Solution
StoneX implemented the Trade Allocation Manager (TAM) to achieve a universal post trade middle office solution.
TAM provided StoneX with:
- Efficient exceptions management and an alert system that helps quickly identify and resolve mismatches.
- a single middle-office platform for capturing trades from multiple OEMs and multiple asset classes and markets.
- Automation and electronic workflow catering to the specifics of multiple asset classes, for example equities, listed derivatives and fixed income.
- A centralized system for trade allocation and management of client entity data and settlement instructions.
