Exchange Traded Derivatives are challenging to process and reconcile, due to their inherent complexity and the multiple ETD data formats used by the exchanges.

To address this issue, Syntel has leveraged its business knowledge to develop a library of ETD Feed Adaptors that process multi-format data feeds generated by financial exchanges and convert them into a common format that can be reconciled by transaction processing applications.

"The Dodd-Frank act will drive higher volumes from OTC to trading on exchanges and this new solution will aid sell-side firms in managing risk by moving the needle from an opaque to a highly transparent model," said Rakesh Khanna, President of Syntel's Financial Services practice.

"Sell-side clients can now leverage Syntel's ETD expertise to deploy our Data Feed Adaptors and automate ETD reconciliation, which reduces their operational risk and drives enhanced compliance and transparency."

In addition to data management and integration services, Syntel will also be providing ongoing data feed maintenance and testing services, to ensure that its clients are able to stay current with changing exchange feeds and regulatory environments.

Syntel specializes in setting up large-scale automated reconciliation "factories" for its capital markets clients, and delivers services for the full reconciliation process lifecycle, including assessment and planning, data feed management, data archiving, regression and UAT testing, performance tuning and ongoing support.

Syntel currently employs approximately 1,500 reconciliation analysts providing daily servicing for more than 60,000 funds amounting to more than $4 trillion in assets under management.