Gresham Computing plc today announced that it has signed up an international asset manager to implement Clareti Transaction Control (CTC). The firm has over £200 billion in assets under management and is the latest buy-side win for Gresham.
CTC will be deployed in the firm’s London headquarters where it will provide an accurate and timely view of all investments across the business. The asset manager will use Gresham’s CTC to reconcile its cash and securities positions with the records held by custodians on a real-time basis. This is the first phase in the firm’s long-term strategy to streamline its reconciliation processes, with the potential to subsequently roll out CTC across multiple asset classes.
CTC was selected due to its advanced functionality and ability to replace the firm’s legacy reconciliations technology. CTC will also provide the firm with the flexibility to easily on-board new clients and investments as it continues to expand, while keeping costs low.
“With regulations such as EMIR and Dodd-Frank in full swing, there’s growing recognition that spreadsheet-based controls are no longer acceptable. This is driving high demand for next-generation reconciliation solutions on the buy-side,” said Bill Blythe, global business development director, Gresham Computing. “CTC allows new reconciliations to be rapidly on-boarded and can be deployed in a matter of days avoiding the expense of time-consuming upgrades to legacy platforms. Its flexibility means it can be used to either replace or complement existing systems and to significantly reduce the TCO of current platforms.”
With CTC the asset manager will have the ability to handle a full range of additional reconciliation types as required in the future including for OTC derivatives, credit default swaps, OMS, IBOR and intersystem reconciliations.