Analysis of middle office and back office requirements to enable a smooth standard process, but allow for iterations in the confirmation process.

Design of the physical architecture

Implementation, testing, user acceptance

Scaling up of all software components involved

Implementation of simple but effective system management measures

All orders, executions and allocations are confirmed among the client offices on T+0.

Based on the accurate information and the automated process, the firm’s reputation with its clients has improved substantially.

The monthly fax bill has been reduced by thousands of dollars

The printing and handling of tens of thousands of documents was eliminated.

Since the application’s inception, the client’s volume has doubled, and yet, the workload for middle office and back office staff is still considerably lower than with the old process characterized by continuous scrambling and playing catch-up.

The operational risk of the process was minimized and was not affected by the volume increase.

The client has gained the ability to offer this service to clients or brokers in lieu of fax confirmations. Masfin Consulting is currently implementing that solution.

With the affiliate offices’ access to NY’s data pool via the web site, hundreds of issues pertaining to static data have been spotted and corrected. The information flow and relationship between the offices have improved substantially.