Manual processes are prone to error, cost
and duplication. Sakonnet has designed Xenon so that all business
processes from confirmations to final settlements can be handled
via STP (straight through processing).
Once a trade has been selected,
relevant documents for confirm, invoice and
settlement are automatically generated and tracked based on already-entered
trade terms. Confirms received from counterparties are also saved
electronically with other trade records.
This seamless transfer
of data through the system increases the
efficiency of the back office, and enables traders to concentrate
on trading rather than paperwork. It also provides the transparency
and accountability needed to manage operational risk and fulfill
expanding regulatory requirements.
- Electronic confirm and invoice generation and in and outbound tracking
- Customizable individual and unit workflow
- Messaging on new trades to allow continuous processing
- Capacity to drill down from reports to individual trades
- Full audit trail at confirm, invoice and trade level that tracks each modification
- Capacity to run fast trial End of Day ("EoD") process