STP

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.

Key features

• 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