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.