Baikal, the London Stock Exchange Group’s pan-European dark pool and liquidity aggregation service, this month began using UnaVista, the group’s generic hosted matching, reconciliation and data integration service.
As part of Baikal’s phased roll out, solutions were needed for end of day exchange reconciliations with central counterparties, and for automation of post-trade client confirmations. UnaVista offers both services based on the same data feed, reducing implementation costs and minimising operational risk.
Chris Rennoldson, chief operating officer of Baikal, says: “Implementing appropriate solutions for reconciliation and post-trade confirmations was a vital part of Baikal’s phased launch, and we are delighted to have been able to leverage the expertise of UnaVista, another London Stock Exchange Group company. UnaVista offered us a quick, low risk implementation. Built on flexible, exchange hosted technology, UnaVista provided us with reliable reference data without the need for any labour intensive, costly hardware installation, helping us to deliver Baikal on time and on budget, with the implementation going from inception to production in just 29 days. At the same time, UnaVista allows us to provide automated post-trade confirmations to our clients in flexible formats and at low cost.”