Products + Services | =Reconciliation
Total equity.
Tied to the penny.
iRecs is the only system that completely solves margin accounts reconciliation for listed and OTC derivatives. Award-winning. Built by operations professionals. Used across more than $500bn of client assets.
What iRecs does
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A multi-user client-server reconciliation platform — open, highly configurable, with a dual accounting system at its heart.
iRecs continuously isolates differences between disparate asset management systems whilst maintaining full control of data integrity at every step. The flexible match engine matches any data — one-to-one, one-to-many, many-to-many, iterative — annotating unmatched or mismatched records automatically.
Internal system
| Position — AAPL | 10,000 |
| Cash — USD | 2,840,512 |
| Total Equity | 2,842,512 |
Custodian feed
| Position — AAPL | 10,000 |
| Cash — USD | 2,840,512 |
| Total Equity | 2,842,512 |
What makes iRecs different
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Total equity reconciliation for derivatives — unique to iRecs.
The Total Equity module accounts for the different allocations of profit between realised and unrealised that arise when two systems process the same FIFO trades in different orders — an inevitable consequence of processing data in disparate systems. A must-have for any firm trading even moderate volumes of listed or OTC derivatives, and wanting to tie cash to the penny.
Accounting framework.
iRecs operates like a portfolio accounting system. It validates the internal integrity of received data by comparing computed positions and balances against imported equivalents.
Match engine.
Highly configurable — one-to-one, one-to-many, many-to-many, iterative. Match rates for cash and trades continually exceed 98%, leaving only the breaks that matter.
Workflow.
Breaks are annotated automatically or manually and routed to users or teams. Each user has a Work Tray equivalent to an Outlook inbox.
Reporting.
A fully featured reporting suite, exporting to Excel, PDF, Word or directly via Outlook. Users can modify reports and save them for future use.
Operational control.
iRecs gathers data from many sources over long periods, giving operations a unique view of internal and external performance.
All asset classes.
From equities through fixed income to listed and OTC derivatives — full market value, derivatives, total equity.
Built for
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From two users to enterprise wide.
| Complete reconciliation and data aggregation for the buy-side in a complex hedge fund environment |
| Total control of trades, positions, cash, balances and total equity |
| Identify not only differences but the actual causes, in a fully integrated accounting environment |
| Unique Total Equity reconciliation solves book-cost differences on derivative instruments |
| Scalable from two users to enterprise wide — ideal for growing firms |
| Meets and exceeds due diligence and regulatory requirements |
In their words
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“iRecs has become an integral part of our control environment, replacing existing manual processes and enabling us to efficiently identify and resolve breaks. The level of automation is important as we continue to grow.”
London Hedge Fund