A Trading Life Cycle Series
04.29.22 | Scott Scherr, Managing Director - Trading and Execution Technologies, FlyerFT
The post-trade process is like the fourth quarter of a big game – you may have the lead going in, but you have to do the work to finish things off to snag the win for your team.
Unfortunately, the fourth quarter for post-trade processing can be arduous and time-consuming for your team at the end of the day, when everyone is wrapping up and ready to head home.
That’s where FlyerFT comes in.
Co-Pilot OMS will automatically allocate block trades and communicate those allocations electronically to your custodians and brokers.
With these functions simplified and expedited, your team is free to wrap up their day without the rush. In today’s blog, we’re covering everything you need to know about how technology can give you the assist you need to complete post-trade processing faster and easier, so everyone feels like a winner.
Automate the Mundane Parts of Post-Trade Processing
One of the biggest hurdles in trade allocation? A lack of consistency.
You might have one custodian taking allocations electronically while another only accepts files uploaded another way. That lack of consistency can lead to errors.
When electronic delivery is not an option, you can rest easy knowing Co-Pilot OMS has already done the grunt work of correctly formatting a file specifically for each counterparty and communicating it via an SFTP file drop or making the file available to you for upload.
Co-Pilot OMS leverages Flyer Trading Network, a order routing and allocation network, to electronically transmit post trade notifications to your brokers and custodians And you receive acknowledgment of receipt and communicate that information back to you in real-time.
What does that look like for your team? A moment to sit back and relax as you send an order for execution and Co-Pilot takes care of the rest.
Make Third Party Trade Matching Tools Accessible
For most asset managers, tools like Central Trade Match (CTM™) and Omgeo Oasys are an expensive and prohibitive solution. Co-Pilot offers an alternative – getting you similar results at a fraction of the cost.
To visualize how Co-Pilot OMS can replace your costly alternative while still delivering stellar results, check out the workflow below:
We also understand that some firms have their reasons for sticking with an Omgeo CTM, and we haven’t left them out. Co-Pilot OMS offers an integration directly into Omgeo CTM tools as an alternative route for sending your allocations, easing the entire process no matter how you prefer it.
Third Party Accounting Integration
The final major way we ease post-trade processing headaches is by working with third party accounting systems to pull in your reconciled data for trading.
As we have throughout each step of the trade order management process, we’ve also automated this process for a quick and streamlined experience.
You already know that Co-Pilot OMS notifies custodians and brokers of trades, but we also notify your accounting system of choice to make sure you have accurate, up-to-date information in every account for portfolio performance and reporting.
We send trade allocations intraday or at the end of the day, It’s your choice whichever works best for your workflow. By the next morning, those trades are reconciled with what the custodian has sent.
Have other third-party integrations you’re interested in? We’ve got you covered. FlyerFT is third-party accounting agnostic – we can integrate via file or API for both start-of-day tax lot positions and end-of-day allocations.
Catch Co-Pilot OMS in Action
Your team can’t go home until the post-trade process is done, which can take upwards of an hour or more on your busiest days. That’s why FlyerFT Co-Pilot OMS works with you to automate that process while also decreasing opportunities for manual errors.
With Co-Pilot OMS, you can say goodbye to that end-of-day stress and embrace automated, electronic communication. Leave the office with confidence that everything is in good shape each and every day.
Click here to request your free demo of Co-Pilot OMS and to learn more about how you can create more efficient workflows with FlyerFT.