Events & Webinars
Taskize’s ongoing series of third-party integrations continued this week with a joint partnership announcement with Xceptor…
Taskize’s ongoing series of third-party integrations continued this week with a joint partnership announcement with Xceptor. And it’s been fascinating to see how months of work between our two teams have been received and appraised by the world at large.
The most in-depth coverage thus far comes from Best Execution who explain how “data automation platform Xceptor and post-trade issue resolution network Taskize have developed a solution that manages and audits correspondence.”
Best Execution’s Alex Pugh tackled Taskize’s James Pike and Xceptor’s John Bevil on three main points:
- “Why transparency is essential across the trade lifecycle
- Why it’s not just T+1 settlement issues the solution tackles
- How email can cloud operational processes.”
…which led to an important conversation around transparency in post-trade operations:
- John Bevil: “Transparent post-trade practices assume a critical role in fortifying risk management protocols enabling confidence and best practice to become embedded across the post-trade ecosystem.”
- James Pike: “Transparency means knowing who I need to ask about a particular query and a more interactive means of monitoring how it is resolved.”
What is the overarching journey here? Pugh sums it up perfectly:
“James Pike told Best Execution that although a lot of attention has been paid to improving transparency for front office processes, we are now seeing a concerted effort from market participants, market infrastructure providers and vendors to address opaque processes in the back office.”
The partnership and integration have been covered across the sector’s media from a variety of standpoints – all of which boil down to the three client drivers we’re seeing emerge in the marketplace: the drive to connect, resolve, and scale:
- ‘Connect’ – removing email and improving reporting:
“The joint proposition provides a process to manage and audit various correspondence methods to drive trade volumes, enhance efficiencies within large confirmation analyst teams, and reduce the risk of financial loss” – Global Custodian
- ‘Resolve’ – regulatory compliance:
“The collaboration will help to provide a solution for Xceptor clients who are facing the pressures of T+1 and other regulations” – Global Investor
- ‘Scale’ – improving client service:
“They (Taskize and Xceptor) will provide supply financial institutions and energy firms with improved counterparty experiences and significant operational efficiencies.” – The FinTech Times
The overall ambition? Traders Magazine explains:
“Through this joint proposition, companies can access a modern and streamlined process to manage and audit various correspondence methods to:
- “Drive trade volumes
- Enhance efficiencies within large confirmation analyst teams
- Reduce the risk of financial loss.”
Alongside this media commentary, we’ve seen some interesting observations from those within and around the partnership.
Ludovic Blanquet, Chief Strategy and Transformation Officer at Xceptor writes that this week’s news is “another of a long series of new industry partnerships we are developing to capitalise on our leadership in data automation across the capital markets ecosystem.
“We are further empowering the operations teams at financial institutions to consume transactions, reference and regulatory data as part of their day-to-day workflow automation.”
Speaking of the Taskize side of the equation, Euroclear’s Miguel Ferreira – Managing Director, Chief Commercial Officer Americas & Global Financial Institutions – concludes:
“My colleagues at Taskize continue delivering on their strategy to bring more efficiency to workflow management across the industry with a new partnership, now with Xceptor.
“With T+1 in North America and Mexico around the corner, quick affirmation and query resolution have never been so important.”
Where next for this partnership? To quote Taskize CEO Philip Slavin:
“Looking forward to exploring this further with clients at Sibos Toronto next month. And delighted to announce the Taskize partner ecosystem growing with Xceptor and bringing in new use cases…
“Seamless integration creates a compelling proposition for OTC Derivatives Operations.”
Header image left to right: John Bevil, Product Director Captial Markets, Xceptor; James Pike Head of Business Development, Taskize; Ludovic Blanquet, Chief Strategy and Transformation Officer, Xceptor; Miguel Ferreira, Managing Director, Chief Commercial Officer Americas & Global Financial Institutions, Euroclear; Philip Slavin, CEO, Taskize.