Opus Fund Services Introduces Recon, its Proprietary Automated Reconciliation Engine

CHICAGO, Sept. 18, 2012 /PRNewswire/ -- 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.

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.

About Opus Fund Services:
Opus Fund Services was established in 2006 and is a leading independent and privately owned full service fund administration company providing automated, integrated middle and back office administration services to hedge funds and asset management firms. From 2010 to 2012 Opus has been named the "Top Ranked" fund administrator by Global Custodian. In 2011 Opus was named "Best Administrator for Small and Start-up Firms" and in 2010 was named "Best Overall Administrator with AUA under $30bn" at the annual HFMWeek US Awards. Opus Fund Services has offices in Bermuda, Chicago, Naperville and San Francisco. Opus Fund Services (Bermuda) Ltd. is licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006. For further information see www.opusfundservices.com or contact one of our offices.

SOURCE Opus Fund Services

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