Archer turns to Salerio to add retail trade processing

Archer logo

Boston, May 3, 2022 – corfinancial®, a leading provider of specialist software and services to the financial services sector, announces that Archer, a leading technology enabled service provider for investment managers, has extended their use of corfinancial’s  Salerio® Post-Trade Execution solution to commence trade processing for their retail services.

Headquartered in the Philadelphia region, Archer provides a robust ecosystem of technology and services to the asset management industry. An early adopter of Robotic Processing Automation, Archer continues to deploy advanced technology like Salerio to streamline processes for investment manager clients and their brokers.

“As more investment managers launch new products specifically for retail investors, we’re continuing to invest in technology that creates powerful operational efficiencies for our clients,” said Bob Lage, EVP, Global Head of Product and Technology at Archer. “At Archer, we’re always looking to upgrade our tools in ways that allow our clients to grow their businesses. By integrating Salerio into our trade settlement process, we are adding automation that creates significant efficiencies in matching trades across our clients’ counterparties.”

Archer used Salerio to migrate its institutional clients away from DTCC’s OASYSTM utility in December 2021 and began moving its retail clients in March 2022. This latest move with the retail application of the technology enables asset managers to match trades more rapidly through a centralized service. Specifically, Salerio facilitates enhanced connectivity to banks and brokers via DTCC’s CTMTM utility, including SWIFT messaging – all highly automated and fully integrated into the Archer IBOR, dashboards and reporting.

David Veal, Senior Executive for Client Solutions at corfinancial added: “Archer’s confidence in our Salerio solution is well-received and this recent change reflects the flexibility of our product to adapt to different operational processes, creating a comprehensive, centralized solution that can scale as our clients’ businesses grow.”

BITA Risk wins innovation award for its ‘ESG Manager’ private client solution

Wealth Briefing - Award-2022-Winner

London, 31st March 2022 – BITA Risk® (part of the corfinancial® group) announces that it won the coveted ‘Best Innovative WealthTech Solution B2B’ award at the Tenth Annual WealthBriefing European Awards 2022 for its BITA Wealth® ESG Manager private client solution.

Showcasing ‘best of breed’ services and solutions in the European region, the awards were designed to recognise outstanding organisations grouped by specialism and geography which the prestigious panel of independent judges deemed to have ‘demonstrated innovation and excellence during the last year’.

ClearView Financial Media’s CEO, and Publisher of WealthBriefing, Stephen Harris said: “The organisations and individuals who triumphed in these awards are all worthy winners, and I would like to extend my heartiest congratulations to the winners.”

BITA Wealth ESG Manager supports evolving ESG strategies by helping firms to understand, manage and monitor portfolio ESG exposures, enabling the integration of ESG analysis and reporting within a firm’s investment proposition.  Climate, impact, and ethical restrictions dovetail with investment policies to deliver analysis and governance to compliance teams and the wealth managers. This key differentiator enables client managers to deliver a better service to clients in the world of sustainable investing.

Commenting on the firm’s triumph, Daryl Roxburgh, President and Global Head of BITA Risk, said: “We are delighted to have won this award in recognition of our innovative approach to managing the complexities of ESG investments for private clients. While many firms have built sustainability into their central process, only a few can embody it in day-to-day portfolio management and demonstrate this clearly to a client while monitoring that they are in line with the client’s preferences and restrictions. This is what our innovation delivers.”

Wealth Briefing - Award-2022-Winner

corfinancial launches penalty fee management for failing trades under CSDR

SureVu helps buy-side firms manage failed trades under forthcoming changes to the Central Securities Depositories Regulation (CSDR)

London, January 19, 2022 – corfinancial®, a leading provider of specialist software and services to the financial services sector, announces the launch of SureVu® Penalty Fees Processing and Management. 

SureVu® helps buy-side firms manage failed trades under forthcoming changes to the Central Securities Depositories Regulation (CSDR), which requires trading venues and investment firms established in the EU to improve settlement discipline by 1 February 2022. These enhancements, known as the Settlement Discipline Regime (SDR), state that where a settlement failure occurs, depositories must impose cash penalties on failing participants.

SureVu supports complex processes associated with penalty fees management, with a set of management information dashboards that summarise data and priorities. SureVu reflects accumulating net fees, in multiple currencies throughout the penalty fee lifecycle. Furthermore, users can lodge and manage appeals against fees that are in dispute. Firms are adopting these new features to ensure they have a comprehensive solution and are ready to go live on 1 February 2022.

“Now that the European Commission has postponed the implementation of the Central Securities Depositories Regulation mandatory buy-in provisions following months of speculation, there are no further reasons to delay the deployment of a solution that supports failing trades. The postponement has created an opportunity for the industry to move forward and the time for action has come,” says Bruce Hobson, CEO at corfinancial. “A comprehensive solution like SureVu will ease the many additional operational burdens that are causing such industry-wide consternation. We suspect that these concerns essentially stem from the fact that many firms are still a long way away from having a tried and tested solution that is simple and quick to deploy.”

SureVu – CSDR introduction – gaining competitive edge

CSDR Trade Settlement

Lower risk, higher efficiency: gaining competitive edge in CSDR trade settlement.

The Central Securities Depositories Regulation (CSDR) has been in force since September 2014 and introduces regulatory change on a regular basis. There are a number of rules and industry changes being introduced in the near future by the CSDR, one of which is the new Settlement Discipline Regime (SDR), expected to come into force on 1 February 2022. It introduces several major changes to the settlement of financial instruments that will have a major impact on all market participants, not least the operations of buy- and sell-side firms.

CSDR Trade Settlement

BITA Risk – ESG Guide To Investing

ESG Investing

Prior to the COVID-19 pandemic and the 2020 market crash, ESG investing was followed by many clients who wished to direct the way that their portfolios were invested, driven by a desire to positively influence Environmental, Social and Governance (ESG) progress. Investment firms considered some of the ESG factors as part of their basic company analysis, with some firms going further, focusing in depth on ESG factors and developing a range of ESG investment approaches.

BITARisk - Guide to ESG

BITA Risk selected by Department for International Trade for virtual trade delegation to climate week New York City

New York Climate Week 2021

New York City, September 21, 2021 – corfinancial®, a leading provider of specialist software and services to the financial services sector, announces today that after a highly competitive evaluation process the Department for International Trade (DIT), alongside the City of London Corporation, The Investment Association, and the Green Finance Institute, has selected BITA Risk® (part of the corfinancial group), and ten other UK-headquartered FinTech companies specializing in ESG and #sustainability to join a virtual trade delegation to an international climate summit in New York during September 2021. 

The UK Department for International Trade is partnering with Climate Week NYC for a series of events concerning climate change from September 20th to 30th. The DIT will be showcasing BITA Risk’s award winning BITA WEALTH® software during the trade mission. BITA Wealth delivers a full spectrum of ESG Management capabilities to the advisor and investment manager.

A DIT spokesperson said: “These FinTechs have developed ground-breaking products and services that are already helping companies, investors, consumers, and regulators around the world overcome key challenges in ESG adoption.” Additionally, Daryl Roxburgh, President and Global Head of BITA Risk will be taking part in a roundtable discussion hosted by Rt Hon William Russell, Lord Mayor of London, on the future of financial services innovation as it applies to ESG. This roundtable will bring together FinTech experts from the UK and the US as well as ESG leaders in banking and asset management.

“ESG data, including carbon emissions, is key to investment management, whether viewed from client preference or investment risk and opportunity perspectives. Managing the complexities of this data and delivering bespoke, mass-customized solutions requires good FinTech. We are proud to be helping the transformation in investment transparency and are delighted that BITA Risk has been selected by the DIT for this historic event,” says Daryl Roxburgh.

For more information on Climate Week NYC, please click here

corfinancial’s Salerio selected by Man Group to migrate OASYS trade processing

System migration
London, 28 June 2021 – Salerio, the post-execution trade processing solution from corfinancial, has been selected by Man Group, the global active investment management firm, to assist in their migration from the OASYS™ US securities trade processing flows to the DTCC’s Institutional Trade Processing (ITP) CTM™ (Central Trade Manager) platform.

Last year, DTCC announced that it would decommission OASYS™ on 31 October 2021.

Man Group has been automating key post-trade processes, including trade confirmation and settlement for international securities, for many years using Salerio. It was, therefore, the natural solution to manage the migrating US trade confirmation workflow.

Salerio provides seamless connectivity to DTCC’s CTM platform and Man Group was able to manage the transition of US equity trades processing via OASYS to the CTM utility without the need for vendor support.

Antonio Dos Santos, Head of London Investment Operations at Man Group, said: “We wanted to ensure the continuity of our centralised post-trade processing in light of the changes soon being introduced by the DTCC. With Salerio’s rich workflow capabilities, the transition was a simple one and we moved most of our US equity traffic over to the Salerio CTM module with ease.”

David Veal, Senior Executive – Client Solutions at corfinancial, said: “Our post-trade processing solution is intuitive, making it easy for clients like Man Group to manage their operations with confidence. During 2020, we enhanced Salerio to ensure that it fully encompasses the changes being introduced by the DTCC that allows the processing of both US and international post-trade securities through the CTM service.”