Electra Wins Sixth Consecutive FTF News Technology Innovation Award for Best Reconciliation Solution
June 8, 2021, New York – Electra Information Systems, Inc. (Electra), a leading provider of award-winning post-trade solutions for the buy-side investment management industry, has won the 2021 FTF News Technology Innovation Award for “Best Reconciliation Solution” for the sixth consecutive year. This marks the third time Electra has broken the record for most consecutive FTF News award wins in a single category, and comes at an exciting time for the firm, following last month’s announcement that it is to be acquired by global fintech firm Gresham Technologies plc (Gresham).
The FTF News Technology Innovation Awards, presented by Financial Technologies Forum and FTF News, recognize the professionals, financial technology vendors, service providers, industry bodies and regulators that have made significant strides and noteworthy achievements in operational excellence throughout 2020. Winners are selected by a popular vote of FTF News readers and industry participants, verified by a panel of judges. Electra has been nominated for Best Reconciliation Solution every year since 2012.
John Landry, chief executive officer (CEO) of Electra, said: “Our leadership position in delivering best-practice solutions to the buy-side investment operations community is evident. Investment managers require modern and innovative solutions that transform their post-trade processes by improving speed, accuracy, efficiency and transparency. With continued investments in our solutions, services and global infrastructure – and now aligning our vision for innovation and growth with Gresham – we are effectively helping our growing global client base reduce risk, cost and complexity across their entire business operations.”
“As we celebrate the Tenth Anniversary of the FTF Awards and the 15th Anniversary of FTF, it has proven to be one of the most competitive to date. Not only did we get more than 220 nominations, but we also had a staggering number of voters from the industry — more than 20,000,” said Maureen Lowe, founder, and president, FTF and FTF News. “Congratulations to all of the nominees and especially to the winners who continued to innovate, stay connected and work so incredibly hard to keep their clients moving forward and adapt during not only very challenging period professionally, but personally. We are continually impressed with the dedication of so many in a highly competitive and rapidly changing industry. And many thanks to our clients who have worked with us over the past 15 years and helped shape FTF today. We hope everyone stays in good health and we look forward to a joyous reunion when we can safely meet again in person.”
Recent Innovations Driving Electra’s Leadership
In addition to unparalleled industry and technology expertise, the following enhancements and successes over the last year have contributed to Electra’s FTF Award nomination and award:
- Released a new user interface and workspace to enhance the overall user experience, as well as expanded calculation and “smart search” capabilities, and improved messaging, activity logs, imports/exports, reports, setups, and more.
- Continued data catalog expansion of its integrated data aggregation service which eliminates the manual collection of client data by aggregating all necessary data on failed trades, corporate actions, securities lending, collateral and other research to drive an efficient and accurate investigation process.
- Increased adoption of Electra’s Managed Services, a flexible and scalable buy-side reconciliation processing service delivered by operations and data experts to helps teams gain immediate productivity and focus on true exceptions and higher-value activities.
- Enhanced global infrastructure and staffing to expand reconciliation processing capacity and support for its growing client base throughout the UK, Europe and the Asia-Pacific region including a client services operation in London.
- Agreed to be acquired by Gresham Technologies, combining the two firm’s people, technology and international network to create a global financial technology business delivering digital integrity, agility, and confidence to financial markets.
- Introduced a unified application programming interface (API) to help investment managers meet their evolving data aggregation and normalization requirements. The unified API provides firms with consolidated, on-demand access to investment accounting data.