AutoRek, the software solutions provider for financial controls, data management and regulatory reporting, just announced that spreadbetting, FX and CFDs broker GKFX has selected AutoRek to deliver CASS automation.
GKFX recognise the requirement to embed a stringent CASS governance and oversight framework given the FCA’s focus to enhance the level of protection afforded to clients. AutoRek will work in conjunction with GKFX’s existing systems, data feeds and operating models to automate both the internal and external client money reconciliations, coupled with the production of the month end Client Money and Asset Return.
The software will undertake automatic matching of transactions and flag any true exceptions for immediate investigation by responsible departments to mitigate the risk of incurring regulatory CASS breaches.
Gordon McHarg, CEO of AutoRek, commented on the partnership:
We are delighted to add a client of GKFX’s calibre and importance in the FOREX industry to our client base and we are pleased that we have been selected to work with the team on this particular contract. This partnership reinforces AutoRek’s reputation for being the leading provider of an automated CASS solution in the market. We know that we have the people, the solution and the knowledge to deliver above and beyond expectations and are confident that this is the start of a long and prosperous partnership.
Rod Martenstyn, CFO at GKFX, added:
With a changing regulatory landscape ensuring that we continually improve our internal processes to meet the FCA’s CASS regime is at the top of our agenda, therefore selecting AutoRek was the logical choice. We will be working alongside their team to build out the solution utilising their knowledge of CASS and technology to automate our CASS processes.