Rothera adopts SmartStream Air for derivatives reconciliation

Rothera has gone live on SmartStream Air in a recent implementation to automate high-volume derivatives reconciliations, the firm confirmed. The platform will be used to handle trade matching, exception management and reporting across the firm’s derivatives operations.

The deployment replaces a largely manual reconciliation process and routes trade and position data through SmartStream Air’s automated matching engine. Rothera confirmed the system will reconcile records across counterparties, internal systems and market feeds with the goal of reducing the time staff spend resolving breaks and improving traceability of those reconciliations.

Air was integrated into Rothera’s middle- and back-office workflows to receive feeds from trading systems, custodians and market data providers. The platform applies configurable matching rules and automated workflows to identify matches, near-matches and exceptions, and it maintains an audit trail that records decision paths and adjustments. The vendor’s cloud-capable architecture was implemented to allow the reconciliation environment to scale as trade volumes change.

Operational drivers for the project included high transaction volumes on derivatives desks and the need for timely, auditable reconciliation records for compliance. Rothera consolidated multiple legacy reconciliation processes into a single platform to centralize exception workflows and streamline case management. The firm expects the system to reduce manual rekeying and reliance on spreadsheets that can delay resolution.

The roll-out covers listed and over-the-counter derivatives and connects to position, confirmation and settlement data to provide end-to-end visibility. Rothera and SmartStream mapped data fields and implemented business rules to reflect the firm’s reconciliation tolerances. Configurable dashboards allow operational managers to monitor outstanding breaks, aging and throughput in near real time.

SmartStream’s Air is presented as a reconciliation solution for high-volume, multi-asset environments and includes rule-based matching, exception workflow and reporting features. Rothera’s adoption follows a wider industry trend of consolidating reconciliation activities onto automated platforms as firms respond to rising trade volumes and stricter regulatory expectations for recordkeeping and operational resiliency.