09.12.2012

Opus Fund Services Introduces Recon3, its Proprietary Automated Reconciliation Engine

Chicago, IL, September 18, 2012 – Opus Fund Services, an award winning and leading independent full-service fund administrator, today announced the enhancement of its middle office service offering with the introduction of its proprietary Recon3 reconciliation module.

The Recon3 solution allows Opus to perform automated trade, position and cash reconciliations between a fund manager, their prime broker(s) and Opus records, for an unlimited number of accounts daily. Clients can view dynamic exception reporting via the iSymphony online dashboard, perform automated trade, position and cash reconciliations between a fund manager, their prime broker(s) and Opus records, for an unlimited number of accounts daily.

Recon3 offers best practice reconciliation of external data sources, such as prime broker and counterparty information, with the Opus portfolio engine, automatically each evening enabling a full set of reconciliations and portfolio reports being made available to the client for immediate action the following morning, prior to market open.

“The automatic reconciliation of client accounts on a daily basis significantly reduces month-end processing time, dramatically improves overall data integrity, and ensures that Opus can continue to offer extreme value to its clients,” said Robin Bedford, Opus CEO.

About Recon3:

Recon3 is a proprietary reconciliation engine developed by Opus to allow fully automated matching of transactions, cash balances, and positions. Using a comprehensive SQL-based definition and matching engine, Recon3 creates a unique identifier to allow 3-way reconciliations between the fund manager, prime broker and fund administrator. Further efficiencies are added by utilizing batch FTP download of prime broker data along with a robust normalization tool to convert external data sources into a standard aggregated format.