Surecomp, the developer and provider of software solutions for the wholesale banking community, has announced that the latest release of Perfect Match, the company’s confirmation matching solution, will incorporate CLS (continuous linked settlement)processing capabilities. With this new feature, Perfect Match Version 2003, which is to be released in Q1 2004, will provide customers with the complete lifecycle and status of any trade between the bank, counterparty, broker and CLS bank. Surecomp recently installed the first delivery of Perfect Match Version 2003 at a major international bank.

Perfect Match is a real-time, multi-branch confirmation system that enables banks to proactively control settlement and operational risk across a wide range of financial transactions. The feature-rich, easy-to-use system fully supports traditional deals, such as foreign exchange, currency options and money market trades, as well as more complex transactions, such as forward rate agreements (FRAs), interest rate swaps (IRSs), cross currency swaps, precious metals, and non-deliverable forwards (NDFs).

By means of an intelligent matching engine, Perfect Match automatically detects exceptions and logically prioritises them by degree of error. Perfect Match then resolves exceptions quickly via its Investigations process, which provides a complete online event history, online diary of investigations and replies and full audit trail for each trade.

“By offering a real-time system with a four-way matching view and a fully integrated investigations/diary, Perfect Match gives banks the opportunity to look at the complete lifecycle and status of trades with a simple click of a button,” says James Black, Surecomp vice-president. “Surecomp is dedicated to continuously raising the bar on functionality and the addition of new initiatives such as CLS processing to Perfect Match Version 2003 testifies to that commitment.”