To help you get up and running quickly, Duco offers a suite of preconfigured templates designed for specific asset classes and common use cases.
This article provides an overview of this self-start capability, allowing you to onboard new processes fast by bypassing the initial build phase and get the first results in just a few minutes.
Read further to learn which templates are available and how to build a process using a template.
Why use preconfigured templates?
We have designed these templates to serve as a best practice standard, ensuring quality assurance across your operations. The main advantages are:
- Rapid deployment: Drastically reduce implementation time. Instead of building a process from the ground up, you can deploy a control that is ready to ingest data immediately.
- Industry alignment: Our templates are built on industry standards (such as the ISDA data model for swaps) and commonly used market fields. This ensures that your controls align with wider market practices.
- Built-in flexibility: While these templates come preconfigured with standard matching rules and fields, they are not rigid. You retain an ability to customise the process, adding your own proprietary data fields for matching, reporting, and investigation to suit your specific internal workflows.
Available preconfigured templates
We currently offer dedicated standard templates for three key asset classes, each pre-built with best-practice logic to help you onboard your reconciliations in an instant:
- Interest Rate Swaps: Designed for reconciling transactions and positions, built on the ISDA standard data model.
- Credit Default Swaps: Optimised for reconciling CDS transactions and positions, ensuring accurate booking and reporting.
- Cash Equity: A solution for reconciling cash equity transactions, pre-populated with the most commonly used market fields.
Creating a template-based reconciliation
Please note that in order to be able to create a new process or update an existing process, you need to have the “Process Creator” permission on the environment level. More about permissions you can learn in this article.
Start with navigating to the main processes page, click the “+ Create process” button in the top right corner.
- Select a template:
- On the new process creation page, look at the sidebar under Preconfigured templates.
- Select the preferred category, such as Trade lifecycle and control.
- Locate the specific template you wish to use (e.g., Cash Equity) and click the “View template” button.
- Configure the folder and the processes
- Select the name for the folder.
This folder will house all the related processes created by the template on the main processes page.
- Configure individual processes that are part of the template.
Expand each section to customize the process name, process code and the data label.
Once all names and codes are configured, click the “Create processes” button at the bottom of the page.
- When the processes are created, you will be returned to the main processes page where you can see your new folder. Expanding the folder reveals the grouped processes, including the data prep for your left and right side inputs and the reconciliation process.
Reviewing and adjust the created processes
Data prep processes
We have preconfigured data inputs and mappings to the output file for you, but you can further customise the processes based on your specific needs.
- Adjusting data inputs.
In case if your file does not align with the suggested input schema or if you would like to submit more than one input to the data prep process, you can add new data inputs to these processes.
Follow the instructions on this page to learn how to do it step-by-step.
- Adjusting transformations and mappings.
We have preconfigured the core fields that are best practices for each use case across the industry.
If your internal processes require any data transformations or if you need more fields to be matched or reported, you can add them by following the instructions in this article.
Reconciliation processes
In the reconciliation process we have preconfigured the main match fields based on the industry standards for each specific templated use case.
If your internal processes require more fields to be matched, you will be able to customise your process further by utilising various reconciliation process features. Learn what is possible in this set of articles.
Suggested next steps
Take your processes to the next level by automating submissions and workflows to be able to focus on what matters most.
- Switch on the Exceptions Workflow
The Exceptions workflow offers users a suite of functionality geared specifically for tackling exceptions found within a reconciliation. It ensures that breaks are owned throughout a review lifecycle, and that this ownership is transparent. Check this article to learn how to switch it on.
- Configure Workflow rules
Workflow rules allow you to automatically allocate, assign statuses, label, comment exceptions and much more. It helps you to reduce manual effort and concentrate on correcting breaks. Learn more about the workflow rules here.
- Configure automated submissions to get results with minimal manual intervention.
Duco enables automatic data uploads for SFTP or API, removing the need for manual input of files. When this setting is configured, a run is triggered automatically as soon as the data is received. This means results will be available to view as soon as you login.
Follow the steps described in this article to learn how to set the SFTP automation or check the API page to learn how to set up the submissions.