Man Group goes live with Swift’s global ETC messaging service
Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.
Man Group now has the flexibility to match securities trades both centrally or locally, and is one of the buy-side firms to take advantage of the benefits that choice between central and local matching can offer.
Robert Ottley, head of trading operations at Man Group said: “The project to deliver Swift GETC has been completed in less than seven weeks from the first test release to go-live. This is thanks not only to the quick turnaround from Salerio, but also to Morgan Stanley who have been extremely supportive during the testing phase of this project.” He added that the firm will continue to add brokers to the network during 2013.”
Michael Fiscella, executive director, Morgan Stanley said: “Enabling STP and standardisation through proven industry platforms enhances operational efficiencies and we commend Man Group, Cor Financial Salerio and Swift for their efforts in this successful implementation.”
Arun Aggarwal, head of UK, Ireland and Nordics, Swift said that working with Salerio helps it to increase its coverage of major buy-side firms.