Cutting reconciliation times from days to minutes by removing complex manual processes at RJ O'Brien

Futures Clearing Merchant

"We are very impressed with Duco as a valuable reconciliation tool. We’ve been rolling it out across increasing product areas globally and have seen significant efficiencies already."

R.J. O’Brien is the largest independent futures brokerage firm in the United States. The firm has been working with Duco since 2014. Our data integrity solution has empowered RJO to automate tedious manual reconciliations, streamline a number of processes across the middle and back office and explore new strategic opportunities.

Duco enabled RJO to automate even the most complex and time-consuming manual processes, with extraordinary results in some instances.

For example, one treasury reconciliation used to take a full-time employee two full days to complete each month. Clients would send the firm checks to cover their margin calls, which were scanned and recorded. At the time R.J. O’Brien could receive up to 30,000 checks per month, all of which had to be reconciled manually via the back office. With Duco the whole process was completed in under three minutes.

Duco also enabled RJO to cut risk and reduce dependency on the firm’s IT department. And, thanks to the agility of our cloud-based reconciliation solution, the firm unlocked greater scalability too.

“It allowed us to build economies of scale to have multiple carrying brokers that will probably, in most cases, charge us less money to clear our business.”

Onboarding new carrying brokers no longer means more full time staff are required to handle reconciliations. Duco can adapt to each broker’s data formats and systems without the need for heavy pre-transformation. R.J. O’Brien can focus on exploring new opportunities without being constrained by concerns over data management.