This $70bn hedge fund wanted to increase efficiency and reduce costs in its operations department. The firm trades all asset classes, from equities to CFDs and swaps. They operate in multiple locations globally and have extensive broker, custodian and fund administrator relationships.
The firm chose Duco to help them tackle four key issues. Firstly, they were able to consolidate multiple control systems to improve efficiency and cut costs. They have previously used one system for cash, another for trades and positions and a separate service for portfolio reconciliations.
Second, they removed inefficiencies in their broker, fund administrator and manager relationship that were creating duplicate work and processes.
The customer went live on the Duco platform in 24 hours and was immediately able to set up portfolio reconciliations and SWIFT MT535 custodian controls.
Third, they unlocked a holistic view of their controls that had previously been impossible. For example, the dividend team needed to see across cash and corporate action reconciliations. The customer had no easy way of ‘slicing’ across multiple control functions to achieve this before Duco.
Lastly, they automated their time consuming balance and total equity checks, which they had been doing manually.