For Tier I to Tier IV CIBs, post-financial crisis changes to the structure of trading activity across all the major asset classes mandated by new global and regional regulatory regimes resulted in the creation of a wide range of challenges in the post-trade arena.
At issue was the continued necessity of human-driven decision-making within many CIB post-trade workflows wherein a long-standing baseline of acceptable error rates in data entry and management became increasingly not-fit-for-purpose in market environments that were gradually shifting toward dependency on low-touch, high-volume automated trading technology.
To elucidate the differentiating factors between the seven sellside post-trade automation solutions surveyed for this report, a detailed analysis of the KPCs of all the solutions is presented both individually and in aggregate in this report. The analysis incorporates data points garnered from each technology vendor that enabled GreySpark to draw out the strengths and weaknesses across the surveyed solutions set.
For the purposes of this report, each selected solution was surveyed by GreySpark analysts across:
- 14 KPCs – Comprised of a mixture of functional and non-functional categories; and
- Five KPIs – Each one of which is comprised of a synthesised set of functional and non-functional attributes designed to allow for a proprietary assessment of the ‘fullness’ of each of the assessed KPCs per each of the surveyed vendor solutions.
The findings of the analysis support GreySpark’s belief that, in 2022, post-trade data automation solution competitive differentiation for sellside institution users is defined by the ability of a single product to provide functional capabilities features that allow for the automation of the historically manual processes and tasks associated with:
- Trade Processing – Inclusive of collateral management, OTC clearing and treasury management;
- Regulatory Reporting – Inclusive of coverage for a wide range of global- and local-in-nature regulatory mandates as well as no-code capabilities that allow for the development of reporting applications; and
- Enterprise Data Automation – Inclusive of machine learning, robotic process automation and enterprise process management applications that allow for the enhancement of the data and metadata derived from the handling of post-trade functions.
This report, then, reviews the findings of a survey of the following sellside post-trade data automation solutions:
- Adenza Group’s Post-trade Processing Platform and Adenza’s Regulatory Reporting Platform;
- ION’s FX Operations and ION’s XTP Platform;
- Vermeg’s AGILE Reporter Platform;
- Duco Technology’s The Duco Platform; and
- UiPath’s The UiPath Platform & Studio / StudioX.
