aller au menu aller au contenu




Outsourcing MO functions can help you gain competitive advantage

With mounting competition in the investment management world, investors are looking more and more closely at fund charges so managers are focusing on reducing the fixed costs of their business to stay competitive.

Many managers have taken a strategic decision to outsource non-core aspects of their business, such as Back-Office operations or Middle-Office functions, in order to be free of incessant technology investment, reduce staff-related costs, increase economic flexibility and ultimately improve the quality of service they provide their investors.

CACEIS has developed a flexible Middle-Office outsourcing solution, enabling you to outsource part or all of your post-execution activities.

CACEIS offers asset managers and institutional clients access to high-quality, industrialised, yet flexible solutions to best suit your specific requirements providing you with a significant degree of comfort, security and cost optimisation. Our services are operated in full compliance with regulations, by dedicated expert teams, and are based on a robust technical infrastructure.

Middle-Office CACEIS manager

«Outsourcing Middle-Office operations enables you to refocus on your core business»

Laurent Majchrzak - Group Product Director

Middle-Office : our services

Reduce operational risk and processing costs with CACEIS’s Trade Management solution

CACEIS’s Trade Management solution combines services ranging from execution (excluding S/R) to settlement and trade matching.

CACEIS provides clients with a single access point to capture trades after execution or for execution (for S/R) via any channel or format. Trade management is fully integrated with CACEIS’s other services and interfaces with external parties such as clearing brokers, custodians and fund administrators. Our systems give real-time information on all incoming and outgoing flows. We can offer client fee calculation as well as Standard Settlement Instructions enrichment. Our offer also enables you to delegate trade affirmation and confirmation to us.

«Numerous counterparts, a single access point»

Renée Simoes - Group Product Manager

Product details

  • Trade capture

    This service covers the integration of your data from all sources and in all formats.

    It covers post-execution trades (equities, bonds, money market instruments, FX, repurchase agreements, lending/borrowing, listed derivatives, OTC derivatives) as well as trade execution (i.e. routing of fund orders to the depositary, centralising agent or registrar and transfer agent).

  • Monitoring and enrichments

    The Trade Management solution covers technical controls (mandatory data, etc.), as well as management and monitoring of pending & rejected transactions, and complaints.

    It can also include enrichment of trades: fees or SSI.

  • Matching

    The "Full Trade Management" solution includes affirmation and confirmation with brokers & counterparts, in addition to the services covered in the Trade Management solution.

  • Trade delivery and reporting

    The Trade Management solution includes trade delivery to the various market counterparts and monitoring of their correct execution.

    The service also includes real-time monitoring of all flows via OLIS, the CACEIS web portal and reporting on trades and trade status as well as monitoring of the reconciled transactions.

Full position updated continuously

In addition to the Trade Management solution, CACEIS offers a position-keeping solution, independent from that of a custodian and valuation agent, with comprehensive information about the overall positions of your portfolios.

«Track your positions in real time and facilitate your investment decisions»

Renée Simoes - Group Product Manager

Product details

  • FO and MO position keeping for all asset classes

    Comprehensive FO and MO position-keeping solutions for all asset classes, securities and cash.

    It is updated upon reception of transactions by the Trade Management team and valued at the closing price.

    We offer automatic application on mandatory corporate actions and updates in line with the fund managers’ decisions for voluntary corporate actions.

  • Cash forecast management

    Management of multi-account and multi-currency cash balances as well as the cash forecast, integrating forecasted and final subscription and redemption figures, cash-flows related to corporate actions and fees, etc.

  • Reconciliations with brokers and custodians

    Regular reconciliations with the various participants (in-house and external): custodians, prime brokers, clearing brokers. Explanation of any differences (initial investigations prior to correction).

    Reconciliation of the middle-office position and the accounting inventory for each NAV, highlighting differences in stock positions or market value.

  • Monitoring tools

    CACEIS web portal, OLIS, enables you to view your positions (by portfolio or group of portfolios, customised views available, etc.).

    We offer multi-format and multi-channel reports upon request (over 30 files are available ).

Start trading OTC derivatives with confidence

CACEIS offers a complete and comprehensive solution for OTC middle-office services.

Our services cover all aspects of post-trade OTC derivatives management and EMIR requirements.

Our solution manages all the complexity of derivatives:

- We can provide trade confirmation (electronic or paper), Independent valuation (from the most plain vanilla products to the more complex, with our in-house structured products valuation team), collateral management, reporting to trade repository and EMIR Reconciliation.

- Our solution ensures full compliance with existing and updated/new regulations, for EMIR or IOSCO (collateral (VM/IM)).

«An all-in industrialised solution to reduce all the operational complexity of OTC derivatives at a limited cost»

Kais Haj Taieb - Group Product Manager

Product details

  • Full end-to-end collateral management

    We manage all your collateral as directed with comprehensive services compliant with the latest regulations.

    Collateral Management has never been so easy. You can focus on your strategy, collateral management is under control.

  • Trade capture, position keeping and valuation

    Automatic trade integration

    We keep all your positions up to date.

    Independent valuation from the vanilla to structured products.

  • Execution / Matching / Confirmation / Reconciliation

    We handle all the operational processes for you.

    Start OTC trading with ease, all the back office/middle office time consuming tasks are included in our large-scale solution.

  • Cash flow management

    OTC trading involves handling cash flows that can quickly become challenging to monitor and manage.

    We not only manage cash flows for you but also provide comprehensive reporting on your upcoming flows.

We offer a systematic hedging solution for your share classes

CACEIS offers a turnkey systematic solution for share class hedging, in line with ESMA's recommendations for over-hedging under-hedging, monitoring frequency and rebalancing.

«Benefit from CACEIS expertise and a turnkey solution by outsourcing share class hedging activity»

Kais HAJ TAIEB - Group Product Manager

Product details

  • Hedging of subscription / Redemption flows

    -If hedging conditions are met, an FX SWAP or an FX Forward are put in place between the currency of the hedged share class and the fund’s base currency, with maturity at the end of the on-going period.

    -Option: FX spot for the outstanding amount between pre-advice and final advice flow.

  • Hedging adjustments due to market evolutions

    - Calculation of the theoretical adjustment according to the rules defined and in line with ESMA recommendations.

    - FX Forward between the currency of the hedged share class and the fund’s base currency, with maturity at the end of the on-going period.

  • Rollover of Hedging transactions reaching maturity

    Rollover of hedging transactions reaching maturity through an FX SWAP with new maturity date set at the end of the next period.

  • Reporting

    - Daily reporting on
    the FX transactions of the day: the “Daily hedging deals”
    Report on the outstanding FX forward positions : “Outstanding hedge forwards”.

    - Reporting at each renewal period of the hedge contracts with the calculation of the foreign exchange P&L linked to each roll: “Share class hedging calculation P&L”.