The positions data must be reconciled to complete an accurate NAV. When completing these, the user will look at quantity difference, price difference, and market value differences. If the positions are not reconciled correctly, this could result in NAV errors, due to missing trades, or large market value differences, that could cost money due to fines and reputational damage. With automated data feeds, auto-completion, data enrichment, smart matching, MIS, and live chat support, a position rec in Fund Recs can be completed with little or no manual intervention. This then allows the user to concentrate on clearing breaks and adding more value, rather than spending time collating and manipulating data. The position rec is broken down into three components. Futures, for lot level recs, forwards for FX positions, and standard for the rest.
Let's look at a sample fund. For each fund there are multiple file types. Files are received automatically via SFTP, or they can be manually uploaded.
When we click on options, we can cancel a position rec, open a position rec, re-run our automatic steps, search, and there's a full audit trail available to us. When we click into our position rec, we can see that the data is split up by unmatched, breaks, and matches. We cannot proceed without investigating all breaks. We can also switch between our standard, futures, and forward recs here.
For fund setups, these are available on-demand, and can be amended by an admin user at any time. Fund Recs has a powerful rules engine that optimizes the matching process. These rules can be refined to whatever level of detail is required.
The position rec SFTP setup is a point/click exercise, where the user creates folders for the automated processing of the files. Once everything has been set up and tested in UAT, we can then export everything to our live environment. At Fund Recs we can handle any format type, from PDF to SWIFT. Turning unstructured data from this... Into this. You can get help at any time through our live in-app support.