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Delivering Cost Efficiency in Derivatives Markets.

Mosaique | October 24th, 2019

Mosaique Tackles Capital Markets Costs Through Deep Expertise and Emerging Technology

The futures industry has a huge problem that is hiding in plain sight but, paradoxically, it has not received the attention that it deserves. After many years of investment in back office systems that focused on rising regulatory requirements at the expense of the bottom line, current practices have led to the situation where hundreds of millions of dollars are tied-up in a confusing tangle of manual back office procedures that greatly increase both operational risk and resource intensity. A change is needed and Mosaique delivers on that promise.

A $500 million problem

The listed derivatives industry in the U.S. alone held over $292 billion in customer assets in 2018 and by our estimates generated total fees of over $7 billion. Of that amount, as much as $500 million is outstanding at any one time as a multitude of factors creates gross inefficiency. In the real world, an average of six platforms are being used to manage the fee and reconciliation chain at Tier-1 brokers.


  • neither brokerage legal agreements nor fees are standardized or linked efficiently to the lifecycle of a trade
  • processes are both outdated and performed manually in batches rather than with straight-through-processing, leading to slow resolution and extra reconciliations
  • each firm has multiple independent platforms that do not communicate well with each other, much less with systems at other firms in the network
  • data sources are frequently siloed and are not standardized, which leads to costly misinformation and the need for extra resources to check and confirm information.
  • The problem is compounded by the reality that regulatory requirements have risen dramatically in the past decade, leading to a greater share of technology dollars being allocated to non-revenue generating tasks and away from improved systems that can help reduce costs and increase capital efficiency. The share of IT spend devoted to regulation is certain to remain high so firms need to look for opportunities to transform their brokerage operations in ways that embrace new technology and take advantage of existing network effects. That is what Mosaique can deliver.

    The Mosaique solution

    Mosaique addresses the complex multi-party ecosystem of participants, trading agreements and fees with an enterprise SaaS solution that consolidates multiple platforms into one and utilizes distributed ledger technology to optimize payables and receivables. In short, Mosaique attacks the full array of difficult issues and promises to unlock untold inefficiencies, freeing up capital and improving the bottom line of business. This is data lineage done well.

    With the Mosaique platform, post-trade events as well as legal documentation are integrated with smart contract technology to deliver a view of brokerage fees and trade agreements that is both accurate and available in real-time. The platform architecture encompasses the totality of the ecosystem and is delivered as both a user interface and via API. No other solution can deliver the breadth and depth that Mosaique offers.

    Reimagining capital markets infrastructure

    The Mosaique team possesses the unique combination of deep market experience and technology vision needed to address these complex problems. The new technologies, particularly those embedded in distributed ledger and cloud technologies, are ideally suited to the task at hand and can readily be applied to a multitude of other asset classes in capital markets that are confronted with the same issues of unstructured and incomplete data, confusing agreements, and slow processes that tie up capital and have a negative impact on the bottom line. Mosaique is transforming the post-trade ecosystem.

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