EOD Reconciliation

The process of reconciling trades is critical for organizations that engage in complex financial transactions or deal with multiple brokers. It involves comparing transaction details to ensure accurate records and prompt resolution of discrepancies. However, manually reconciling trades can be time-consuming and error-prone, especially for companies dealing with a high volume of transactions.

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Some common challenges are:

• Gathering data from multiple sources.
• Parsing distinct file format configurations.
• Tagging data to standardize it across all brokers.
• No warnings for missing/incorrect data.
• Integrating with silos of applications used for reconciliations.
• Adapting to the constant evolution of the business environment can pose challenges.
• Requires skilled personnel to perform the reconciliation process.

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Finally, the delay or hindrance in the data flow from various departments can pose extra challenges, like delay in receiving data from trading platforms, errors in data entry, and inconsistencies in data formats.

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Implementing an automated reconciliation system can help companies overcome these challenges and streamline the process. This is where HOC's ePic (Enterprise Platform for Integrated Compliance) solution comes in, providing a user-friendly, robust, and scalable platform to automate data collection, analysis, management, and report generation. ePic can fit in immediately to handle your current workflow and be scaled to accommodate your future needs.

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ePic's ability to organize and maintain all broker data from different sources, filter, and map data, and apply rules for matching fees, margins, positions, and trades, to generate accurate and error-free reports make it an efficient and effective solution for end-of-the-day reconciliation processes.

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ePic does the heavy lifting in the background to give users a simplified interface and reports.

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• Pulls data from all brokers and organizes it locally.?
• Standardizes the data to make it compatible for comparison with the ETRM dataset.
• Appropriate filters, tagging, mappings, and rules are applied to facilitate the matching process.??
• Ensures accuracy and consistency by applying pre-defined rules for matching fees, margins, positions, and trades on both datasets.
• Unmatched records are tagged and stored in an output table with appropriate reasons.
• Finally, present the reconciliation results on screen, an Excel report, or an email notification with the outputs.?

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The benefits of ePic include improved accuracy and consistency, time savings, scalability, transparency, and user-friendliness. The fact that ePic can fetch trade data directly from the ETRM sources, confirms the ease of doing business with new brokers with a one-time setup. This is a great advantage.

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The ePic platform could be a valuable tool for organizations looking to improve their end-of-day reconciliation process. By providing accurate and consistent reports and streamlining the reconciliation process, ePic can help organizations enhance their operations and achieve their business goals.

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