MFS Investment Management has chosen CheckFree Recon Securities solution to automate its position, detail and cash reconciliation processes.
The CheckFree platform gathers, reconciles, and reports on a range of complex securities transactions, both at the end-of-day position level and detailed transaction level. Recon Securities then streamlines end-of-day processes such as stock record, general ledger and trading system as well as external sources such as custodians or the DTC. All of MFS' data, including its multiple custodian files, can be automatically imported, matched, reconciled and reported.
Martin Pearce, senior vice president of the investment operations group at MFS, says: "With Recon Securities, we can now fully automate securities reconciliation processing with an easy to use system...We are rapidly moving to roll out the application to manage more detailed transactions and plan to expand the system's benefits to other areas of the organisation."