SmartTrade Launches Multi-Asset STP Solution

SmartTrade Technologies has launched Flow, a post-trade platform offering full straight-through processing from front office execution across FX, precious metals, money markets, fixed income, crypto and derivatives.

The new solution covers matching, reconciliation, risk and position tracking, accounting, settlement, regulatory reporting and audit in one application, and is a standalone product, meaning it connects to existing trading platforms via API and natively to SmartTrade’s Liquidity FX and Commercial Banking & Payments platforms.

SmartTrade observes that “post-trade has been left behind by two decades of front-office modernisation” and says that Flow has been built to address “the specific failures that operations, finance and audit teams live with every day”. These include trade breaks that surface too late, sometimes after settlement; cash and risk limits are only known at the end of the day; settlement “is handled by hand”; and reporting and audit “are an afterthought”.

To solve these issues, Flow reconciles trades in real time against external account and transaction data via Swift, CLS and API, as well as records investigation outcomes. The solution also tracks nostro and vostro balances, limits, positions and P&L in real-time, forecasting balances and warning of impending breaches and possible settlement breaks. Configurable settlement queues, inbound and outbound, with screening, funding, repair, approval, and investigation under full controls and tracking, are also provided, as are audit, control, credit, reconciliation, P&L, position and regulatory reports, which are submitted to EMIR, MiFID II, DTCC and trade repositories.

The new solution also puts matching rules, reconciliation runs, queue movements, and maker-checker requirements in the hands of entitled business users, with configurable dashboards and notifications – on-platform, by email, and through Microsoft Teams – so key events are seen immediately, the firm says.

“Our clients trust technology for their trading and payments workflows, but what happens after the trade is often where inefficiencies, breaks and errors occur, costing both time and money,” observes David Vincent, CEO and co-founder of SmartTrade Technologies. “Flow takes executed trades and payments through matching, reconciliation, accounting, settlement and reporting, delivering a more efficient post-trade service, saving money, reducing risk, and helping banks to grow market share.”