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Reconciliation

HedgeFacts' Reconciliation capabilities help managers to reduce operational risk, meet fiduciary obligations, and increase productivity by automating the process of checking manager trade files against clearing firm electronic data. What would manually require possibly hours per day and dedicated staff to accomplish can be achieved in a few minutes per day with HedgeFacts. Reconcile hundreds or even thousands of trades per day across any number of broker accounts with a few easy steps, identify errors in commission billing, and make sure client accounts have correct positions. A disciplined and automated reconciliation process helps you meet your fiduciary obligation for funds and managed accounts, while quite possibly saving you money by catching errors in incorrectly booked trades or overcharges in commissions.

HedgeFacts Reconciliation includes the following functions, processes, and reports:

Data Capture

• Import manager trade blotter files in a variety of standard or custom formats
• Process imported manager activity files to build positions and returns
• Automatically capture clearing firm statement positions and activity each day in electronic format
• Generate an allocation sheet for bunched orders that can be exported to Excel for reporting to brokers and loaded into HedgeFacts for subsequent reconciliation
• Support and store a variety of custom user defined fields relating to trades including strategy attribution and target prices

Reconciliation reports and screens

• Daily Trades Reconciliation:Grouped by account and symbol, this report displays the quantity traded and the average fill price to identify any trade breaks from the most recent days' activity or any day historically.
• Daily Positions Reconciliation by Account: This report displays the quantity of positions built from the manager file(s) and the quantity found on the clearing statement as well as highlights any discrepancies in open positions. The report also includes an option to display the mark to market profit/loss by symbol and any differences between the manager and the clearing firm in valuation.
• Daily Commissions Reconciliation: This report lets you set-up assumed commission rates and then compare fees to actual charges in the broker statement data, identifying discrepancies between the assumed rate and actual fees charged.

In combination, these features help our clients reduce their operational risks and minimize time spent performing the reconciliation functions.