AEGIS ‘Verify’ Algorithm Automates Much of Your Hedge Confirmations Reconciliations
New software from AEGIS automatically downloads energy companies’ hedge trading confirmations and identifies costly discrepancies in their trading portfolio. These trade “confirmations” act as receipts from banks and swap dealers to the agreed-upon details of trades, and it is standard practice to reconcile them to internal systems – usually a manual process.
Verify is joined by AEGIS Settle, a package that performs similar reconciliations with counterparty invoices, the documents issued by counterparties to show what payment is due to (or owed by) an energy producer based on the type and number of hedges on the books.
Director of Operations and Technology, Trent Sansbury, noted, “Clients are telling us these tools to perform trade-book reconciliations remotely has been a huge help. It was fortunate timing, having these packages launch just as accounting and finance personnel were having to collaborate without being face to face.”
“We are excited about the response we have received to Verify and Settle across our clients,” said Chris Payne, Chief Product Officer at AEGIS. “Investing in new capabilities and rolling them out to all clients at no additional cost is in line with our mission of modernizing commodity and rate hedging.”
For more information on these and other AEGIS Flow capabilities, please contact email@example.com.