In the financial services industry, technological innovation and globalization have significantly altered the way trade management is done. The situation has become increasingly complex through mergers and acquisitions, bi-national settlements, 24/7 electronic trading, regulatory reforms and more, producing a new set of demands and concerns for securities organizations.
In order to retain their current customers and compete in today’s fast-paced market, these companies must now determine how to increase operational efficiency while simultaneously finding new ways to bring value to their clients. We believe a Broker Dealer Software solution for post-trade management can help address these needs and give securities organizations an edge on the competition.
Here are 5 Reasons to Consider Broker Dealer Software for Post-Trade Management:
- Current solutions are limiting your growth potential.
For many financial services firms, their back office, post-trade management is still done manually using Excel spreadsheets. If companies have taken steps to improve this process, it has usually been in the form of some type of in-house middleware or asset-based tracking system.
Rather than helping, these methods actually prevent you from finding new customers and growing revenue. Entering data into spreadsheets manually is time intensive and extremely error-prone. In addition, when volume increases, new staff must be hired to keep up—adding significant labor costs. Middleware or in house solutions are generally equally ineffective because they rarely have customization capabilities and require reprogramming each time a new type of financial instrument is issued or business needs change.
2. Integration of all post-trade management into one tool dramatically improves efficiency.
With a Broker-Dealer Back Office Software, all of your post-trade activities are integrated into one web-based tool. This immediately eliminates the labor costs of manually entering data into spreadsheets—freeing up staff to spend their time finding new revenue. Additionally, by combining all in-house methods or asset-based tracking systems, you eliminate the need for IT resources while gaining an unparalleled level of visibility.
3. Real-time and continuous visibility reduces risk.
By leveraging a software solution for post-trade management, you gain real-time and continuous visibility of all relevant data. This allows you to quickly and easily access and export information from the account level down to specific individuals. This level of visibility and accessibility also helps firms decrease risk by helping them stay compliant with government regulations.
4. Customization capabilities eliminate repetitive costs.
The customizable nature of these types of solutions also eliminates IT costs associated with software and hardware upgrades, building custom integrations and adapting to the constantly changing market. With a post-trade management software solution like BOSS, any changes or updates that need to happen can be done quickly and easily, through the interface itself.
5. Full integration and extensive visibility give you the ability to analyze and optimize your process based on what is working and what isn’t.
By integrating all of your trade and commission data into the same platform, you gain the ability to determine which of your activities are making you the most money. BOSS’s reporting capabilities allow you to generate easily customizable reports based on business unit, broker-dealer, asset type, etc. By understanding from who or where your most profitable activities are coming from, you can then work to optimize those activities and eliminate the least profitable ones.
If you would like to know more about our Back Office Support Solution (BOSS) for Broker-Dealers, click here. You can also watch our series of short video demos of BOSS here.
If you have any questions, please feel free to contact us.