CORFINANCIAL
corfinancial®, a leading provider of specialist software and services to the financial services sector, announces the implementation of its Central Securities Depositories Regulation (CSDR) software, SureVu®, at Man Group, a global active investment management firm with $144.7 billion of AUM (as of 31st March 2023).
SureVu® enables buy-side firms to manage failed trades and cash penalty fees, as defined by the Settlement Discipline Regime, in one single solution.
“We were impressed by the speed with which SureVu went into production. Within three months, we had 90% of our custodians and prime brokers on-boarded and expect to have 100% of these parties live by the end of April,” said Antonio Dos Santos, Head of London Investment Operations at Man Group.
“One of the big drivers to implement SureVu was the changes introduced by the CSDR, but we also saw T+1 on the regulatory horizon and knew that we needed to be on the ‘front foot’ regarding failed trade management. With 15,000-20,000 allocations per day, we needed a clear picture of our pending trades,” explains Dos Santos. “With CSDR, it is important to have failed trade monitoring and cash penalties in the same solution.”
“SureVu helps firms stay in control and manage trade settlement along with high volumes of data associated with cash penalties, applying effective governance across the processes. Companies need a solution in place quickly, without major overheads in IT and operational staff. Man Group has noted the ease and speed with which our solution starts to add real benefits to the business,” said David Veal, Senior Executive at corfinancial. “Such efficiencies are critical when considering the operational pressures envisaged when T+1 goes live next year.”
For more information on the SureVu CSDR solution, contact corfinancial at info@corfinancialgroup.com.
-ends-
Notes to editors
About corfinancial
corfinancial® provides software solutions and advisory services to banking and financial services organisations worldwide. The firm has offices in London, New York and Boston. For more information, visit www.corfinancialgroup.com
SureVu® empowers buy- and sell-side firms to efficiently monitor and track security trades throughout the settlement lifecycle, enabling users to proactively manage and oversee settlement exposure.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230515005075/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ANTERA24.4.2024 14:24:26 CEST | Press release
The Antera Brand Back at the Summit of Light Alloy-wheel Producers
WA-PARSE-BIOSCIENCES24.4.2024 14:16:26 CEST | Press release
Parse Biosciences Launches Laboratory Automation Provider Program, Collaborates with Hamilton, Opentrons Labworks, SPT Labtech
FL-AMGTA24.4.2024 14:00:35 CEST | Press release
AMGTA Releases Research on Sustainability of Powder and Wire Additive Feedstock
FL-KNOWBE424.4.2024 13:01:34 CEST | Press release
KnowBe4 to Acquire Egress
CO-VANTAGE-DATA-CENTERS24.4.2024 12:01:33 CEST | Press release
Vantage Data Centers Expands EMEA Portfolio with First Dublin Campus Featuring Next-Generation Energy Solution
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom