Man Group has selected corfinancial’s treasury solution, Salerio, to manage the firm’s foreign exchange confirmation, settlement and netting processing.
Man Group uses Salerio to automate the management of securities post-trade processing and is expanding the use of Salerio to incorporate automation of foreign exchange processing. The investment management firm’s international growth has relied increasingly upon Salerio, which automates key middle office processes.
Salerio will also support Man Group’s CLS (Continuous Linked Settlement) netting – a standardised, automated bilateral payment netting service.
Richard Craske, Change Management Specialist at Man Group, said: “We have been a long-term user of Salerio to manage our trade confirmation and settlement. The high volume of our securities trading – that can reach in excess of 30,000 allocations per day – demands the very best in technology and Salerio has more than proved its worth. We now want to incorporate foreign exchange processing and CLS netting in the same, centralised processing model. With Salerio’s treasury modules in place we can continue to scale our operations efficiently, allowing our teams to focus on handling exceptions.”
Bruce Hobson, CEO at corfinancial, says: “We are delighted to have been selected by Man Group to bring further efficiencies to their post-trade processes. We look forward to Man Group extending the use of Salerio to incorporate FX processing, completing the treasury deployment during 2021.”