XP Investments boosts trade volume 10x with Genesis post trade solution
The Genesis Trade Allocation Manager (TAM)
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About XP Investments
XP Investments (XP) is one of the top investment firms in South America. It has more than 3.4 million global clients and offers more than 800 investment products, including investment funds and private pensions spanning, equities, derivatives, fixed income and structured products. Its wealth management service has more than ten thousand exclusive advisors across the globe.
The Challenge
Valuing flexibility and scalability, XP uses several OMS technologies and values the ability to change its OMS when needed. However, this created a challenge for middle office teams trying to keep pace with change, especially since post trade infrastructure at XP had not received as much investment as its technology-driven trading and customer experience initiatives.
In the middle office, many workflows and processes were managed using Excel, with no or very little automation and control. Beyond the cost and risk inherent to manual processes, the middle office reality limited XP’s ability to expand its trading volume and client base. While the firm was desperate to improve agility and efficiency, XP concluded that traditional vendor solutions did not provide the flexibility, customization and numerous integrations they required.
The Solution
XP opted to implement Genesis’ Trade Allocation Manager (TAM). TAM offers seamless integration with leading front-office platforms (OMS/EMS), providing a real-time centralized middle-office solution engineered to handle multiple asset classes, including equities, fixed income, FX and derivatives. TAM supports all middle office functionality, including client and market-side trade capture, block and allocation processing, fee management, trade enrichment, trade confirmations and management of settlement instructions. It also offers integrations to custodial platforms and internal back-office systems.
The Benefits
Since implementation, XP has increased its trading volume tenfold. Importantly, the efficiency and agility provided by TAM has enabled the XP to handle the dramatic increase in volume without significantly expanding the number of people working in middle and back office teams. XP is delivering better client service, while improving its compliance posture and the performance of its post trade operations.
“Now the team can complete the trade allocation process and create the client confirmations in half the time. ”
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