Electra Information Systems: Automating Reconciliation Processes

Electra Information Systems: Automating Reconciliation Processes

Back in 90s, the deployment of reconciliation technology initially focused on cash and security processes. However, now there is a lot more enthusiasm to utilize this technology in supporting areas such as derivatives, data quality improvement and regulatory reporting. Reconciliation technology is now being used to underpin a wide range of functions within the myriad of financial institutions active in the capital markets and assist both the external facing and internally focused procedures. One such company offering an effective and efficient reconciliation system is Electra Information Systems.

Electra Information Systems is a promising innovative provider of solutions and services for post-trade processing including reconciliation, data collection and transformation, trade matching and settlement and client fee billing for the financial services industry. The company’s award-winning solutions have enabled financial service organizations to significantly increase their efficiency, manage costs, and reduce risks.

Electra Reconciliation formerly known as OpenStaARS enables systematic operations by automating the process of identifying the exceptions and providing visibility into their management. The innovative and intuitive platform is designed to permit users to manage trade exceptions based on their individually defined parameters and can be delivered via SaaS, installed on-site, or provided as a hosted and managed service. Electra Reconciliation provides an integrated and consolidated view of the user’s position, transactions, and cash and is also offered as a scalable solution for startups to meet their specific requirements.

The Electra Reconciliation platform displays the progress of reconciliation in real time for the benefit of the back office staff of the financial companies, monitors and resolves the exceptions based on the client’s needs. Besides supporting the standard custodial reconciliation of positions and transactions for various types of security across multiple systems, the platform provides additional reconciliation activities including system to system, P&L, collateral, security master, pricing and many more.


The company’s award-winning solutions have enabled financial service organizations to significantly increase their efficiency, manage costs, and reduce risks


Previously, organizations handled reconciliation processes manually or used outdated solutions that failed to reduce the overhead costs or the associated operational risks. Designed to automate these time and energy consuming processes, the Electra Reconciliation platform provides organizations the flexibility to concentrate on their most important aspect - their business. The Electra Reconciliation platform presents a holistic, integrated view of positions, transactions, cash, and monitors and resolves exceptions more effectively for a better experience.

Electra’s unified workspace provides a consolidated view of the positions, transactions, and cash. The management dashboard allows users to report and analyze the data based on the exceptions. The platform is equipped with a real-time reconciliation feature- Dynamic Snapshot, which gives users the ability to reconcile a final month-end reconciliation incorporating the transactions and cash balance changes. This allows the regeneration of the cash reconciliation for the end of the month at any time, by taking into account all the information obtained until the point when the reconciliation is re-run. The functionality enables the automatic integration of delayed reports into the reconciliation record and the net asset value calculations can be accurately determined in the client statements and manager reconciliation.

In the wake of strict mandates from regulators and demands from investors, financial service organizations are turning to automated reconciliation systems to improve their operations, mitigate risks and reduce costs. Electra aims to empower these organizations and help them tackle their back office challenges with the company’s comprehensive portfolio of solutions.

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Top 10 Reconciliation Platform Solution Companies - 2019

Company
Electra Information Systems

Headquarters
New York, NY

Management
John P Landry, CEO

Description
Electra Information Systems is an innovative provider of solutions and services for post-trade processing, including reconciliation, data collection, and transformation, trade matching and settlement and client fee billing for the financial services industry. Since their inception in 1998, Electra continues to be guided by a single, client-driven principle efficient processing is critical to success. They partner with their clients to deliver award-winning post-trade processing solutions, training, and support – all of which enables the clients to increase efficiency significantly, manage costs, and reduce risk. Electra Reconciliation, Electra Data, Electra Settlements, Electra Billing, Electra FailSafe are some of the solutions provide by the company