Automating and consolidating derivatives and cash reconciliations as part of Brightwell's target operating model transformation

Pension Fund

“Duco enables us to unlock end-user automation, driving down total cost of ownership, risk and time-to-value. The flexibility of the platform will allow us to achieve our goal of more streamlined, efficient operations by giving us one system to manage reconciliations for derivatives positions, trades and cash.”

Defined service benefit provider Brightwell, formerly BT Pension Scheme Management Limited, chose Duco to replace an inflexible legacy system in their Investment Operations department that was limiting the firm’s growth. This system lacked the functionality needed to handle the variety of use cases and the volumes of data they needed to process.

Duco’s data automation platform enables Brightwell to normalise their data and consolidate reconciliations for FX, OTC and ETD derivatives, fixed income and cash balances, as trading volumes grow. Our agile, intuitive data automation platform enables Brightwell to scale while providing greater control and auditability.

“We can use Duco to consolidate formerly disparate manual tasks across instruments into single processes, giving us scalable and transparent controls and enhanced auditability as we grow. Through Duco we gain a volume agnostic automated process which allows us to be exception based in our processing which positions us well to support Brightwell’s multi-client growth strategy. For example, before Duco we had to perform position and cash balance reconciliations separately; with the Duco cash module we can combine these into one.”

Features such as advanced filters, transaction rollup rules, conditional rules and the Data Prep module help Brightwell reduce the number of exceptions, allowing them to build complex matching rules, and bring down the number of false positives.

We’re delighted to be part of Brightwell’s transformation strategy, which is further evidence of the key role Duco’s technology can play in enabling operating model change. Brightwell can centralise and simplify their processes and utilise the full domain expertise of their teams.

The fundamental assumptions around how firms should manage their data are changing, paving the way for more agile, scalable ways of doing business.

Click here to learn more about cash reconciliations.