Operations Technology

Griswold has implemented cutting edge operations and settlement technology with great tenacity. Utilizing products such as ALERT, an instructions database, and two confirmation and allocation modules known as OASYS Direct and Global OASYS, Griswold is well equipped to efficiently and effectively handle all domestic and global settlement scenarios.

Global Technologies

The ALERT database houses delivery instructions for the bulk of the financial community, including both U.S. based and non-U.S. based institutions. There are currently thousands of institutions that subscribe to ALERT, and a great many order management systems that interface with it directly. While some broker-dealers still require their clients to either email or fax delivery instructions over before beginning trading, Griswold utilizes ALERT to streamline and expedite this process by making the information available on one central database.
In order to best serve our non-U.S. based institutions in the same ways a larger broker-dealer typically does, Griswold utilizes Omgeo’s OASYS Global product. This product facilitates worldwide trade allocation and confirmation electronically. Griswold can now determine whether or not a trade is going to settle properly on T + 0, by simply sending electronic confirmations to our clients, which are in turn accepted or rejected that very day. If a trade is in fact rejected, it typically includes a description of what must be changed. This allows Griswold to resolve all settlement issues, long before settlement date. OASYS Global processes the majority of the world’s cross-border Electronic Trade Confirmation (ETC) volumes, and is recognized by all global and domestic regulators.
Omgeo’s OASYS Direct is a domestic equity trade allocation and confirmation platform that utilizes the information stored in ALERT by brokers and money mangers alike. It allows real time communication concerning trade and allocation details, between investment managers and broker/dealers. By sending electronic confirmations to investment managers and custodians on T+0, broker-dealers can easily assess the likelihood of a trade settling properly.

Benefits

Griswold’s use of OASYS and OASYS Global has helped to replace error-prone faxes, phone calls and e-mails, by better automating the settlement process. Creating greater efficiencies and reducing the risk of trade failure, by providing counterparties with accurate and complete trade information, ensures that our customers are provided the best and most accurate settlement reports.