Delivering accurate, standardized online confirmations to multiple users seems like a simple concept. In practice, however, the process of developing definitions (schema), building an open platform and ensuring stability and ease of use are highly complex.
In the past, transactions were handled through regular mail, fax and email, with formats and conventions as individual as the numerous companies involved. This proved inefficient and error-prone, especially considering the MANY validations required before a single transaction was accepted as valid.
ConfirmHub resolves these issues by providing a streamlined, easy-to-implement, standardized confirmation method.
First, the trade desk initiates the transaction. Then, the broker, the exchange and/or your counterparties processes the trade information in their respective systems. This information is sent to the ConfirmHub, which standardizes the various forms into a common value set and presentation format.
The ConfirmHub accepts transaction input from all parties involved. Beginning in just a few weeks, you and your counterparties can upload a representation of the transaction, have it transformed to the ConfirmHub standard and made available for any number of processing options – for FREE.