BOSTON--(BUSINESS WIRE)--corfinancial today announces that Man Group, the global active investment management firm, has selected its 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 standardized, 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, centralized 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, said: “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.”
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About corfinancial (www.corfinancialgroup.com)
corfinancial provides software solutions and advisory services to banking and financial services organizations worldwide. The firm has offices in London, New York, and Boston. Salerio is a post-trade processing solution that enables asset managers, hedge fund managers and securities/fund services firms to automate the flow of securities and treasury trades from matching through settlement.
About Man Group (www.man.com)
Man Group is a global, technology-empowered active investment management firm focused on delivering alpha and portfolio solutions for clients. Headquartered in London, we manage $127 billion and operate across multiple offices globally.
Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index.
