Automated Returns

Launched in June 2009 the automated Returns service brings new efficiencies to the highly manual process of calling-in and booking returns.

• Utilising the sophisticated matching engine used by other Pirum services, pending returns booked by borrowers are matched to loans using the financial details of the trade, ensuring the return is booked against the correct loan by both counterparties within minutes of it being booked by the borrower.
• This leads to reduced billing issues and more accurate P&L calculations while greatly reducing the resources needed to support the returns process.
• Real-time feeds ensure returns are booked into Lenders' systems as early as possible, allowing lending desks to make use of the increased availability to maximise revenue opportunities.

Service benefits:

• No need to call in returns by hand
• Automatic booking into the Lender - no manual input
• Automatic reshaping of borrowers - in matching markets Borrows can be automatically reshaped to match the Lender
• 100% capture - notifications can't be lost or deleted in error
• Fewer billing differences - the correct trade will be retuned on both sides
• Achieve STP (Straight Through Processing) for returns
• Operate efficiently, with intervention required for exceptions only

Key Features:

• Near real-time – ensures that returns are booked into the Lender throughout the day within minutes of them being booked by the borrower
• Configurable cut offs - Lenders can specify their cut offs by market and counterparty
• Lenders are able to customise returns rules on a reconciliation basis. Rules such as minimum return quantity and minimum return value are available.
• Intuitive workflow screens - any returns requiring manual approval can be seen in a single location and approved online

For further details of the Automated Returns service and to contact a Pirum representative follow the link on the right: