SmartStream, the financial Transaction Lifecycle Management specialist, today announced thatTLM Reconciliations-Premium has been named as the “Best Reconciliation Platform/Service” in the 2010 Waters and Buy Side Technology Awards.

The annual awards honour the achievements of firms that service asset and hedge fund managers and are selected from a shortlist by a judging panel comprising consultants and analysts including Sang Lee from Aite Group, Mayiz Habbal from Celent. The inaugural “Best Reconciliation Platform/Service” category was awarded to SmartStream in recognition of the success of TLM Reconciliations-Premium since its launch in 2009, gaining a significant number of clients globally.

The judging panel also recognised its ability to process a wide range of instruments and the substantial and continual evolution of its functionality such as the recent introduction of Exchange Traded Derivatives (ETD) processing.

David Penney, EVP Strategy and Product Management, SmartStream Technologies, commented: “I’m delighted that Buy-Side Technology has awarded SmartStream 'Best Reconciliations Platform' for our market leading TLM Reconciliations-Premium solution. The fact this award now exists highlights the extent to which the spotlight has fallen on the post-trade space and the pressures firms are under. Recognising those pressures, including regulation, cost, back office efficiency and total cost ownership, we developed an entirely new product to deliver a single transaction processing platform across multiple instrument types. It was also designed with multiple delivery options, so that firms could use it in the manner that best suited their particular organisation, be that as an on premise solution, through a BPO service or through the SaaS delivery model. This latest award is further testament to TLM’s ability to drive down the cost-per-transaction and deliver a significant return on investment."