Palmerston Capital, the credit-focused alternative investment manager, has implemented Watson Wheatley’s iRecs reconciliation solution.

Specialists in securities reconciliation, Watson Wheatley has used its own in-house implementation team to interface with Orchestrade, Palmerston’s portfolio management system, and external data sources to provide a comprehensive daily reconciliation solution. The fully automated system allows total control and remediation of daily breaks as well as comprehensive integrity checking of position and cash movements against underlying transactional data.
 
Jesse McCormick, COO at Palmerston Capital, says: “iRecs has become a core element of our control environment, enhancing historic and internally developed processes, and enabling us to efficiently identify and resolve breaks. The solution represents excellent value for money and the level of automation provided  is important as we continue to grow and invest in our operational infrastructure.”
  
Tom Wheatley (pictured), COO at Watson Wheatley Financial Systems, says: “We found interfacing with Orchestrade efficient and were able to provide valuable reconciliation output very quickly. Like many of our new clients Palmerston are using our hosted solution which allowed us to implement the system extremely quickly and reduce costs.”