US investment bank Morgan Stanley is implementing Thunderhead's document generation technology which it will use to help automate the creation of OTC derivative trade confirmations.
Thunderhead says its off-the-shelf technology will enable the bank to streamline trade confirmation processes while reducing operational risk and improving the time required to reach the document confirmation stage.
The implementation will enable business groups at the bank to create and maintain a spectrum of approved document templates for trade confirmations, both STP and non-STP. The Thunderhead system also provides a full audit trail to ensure complete transparency of the trade confirm process.
Glen Manchester, Thunderhead CEO, says: "We have developed Thunderhead to enable progressive organisations such as Morgan Stanley to adopt an enterprise wide strategy for trade confirmation generation."
Thunderhead says its multi-channel technology enable users to produce documents in any format required by trading partners, be they print, fax or e-mail, including counterparty settlements made via DTCC Deriv/SERV.