Duco

Duco is a London-based technology company focused on post-trade services for financial market firms, specifically brokers, trading firms and futures commission merchants. Its flagship product, Duco Cube, launched in April 2013, is a self-service, customizable system for trade reconciliation. 
The company also has offices in New York, Luxembourg, Singapore, Edinburgh and Wroclaw, Poland. 
 
== History ==
After an investment from NEX Group (formerly ICAP) and years of development, Duco launched its Duco Cube service in 2013. In January 2014, Traiana, a post-trade processing and risk management subsidiary of ICAP, launched a new reconciliation service for swap execution facilities, FCMs and central counterparties, using Duco's technology. By December 2014, the firm had 16 clients across the globe, including China Merchants Securities, R.J. O'Brien and INTL FCStone, as well as several other financial institutions. By September 2015, 26 financial institutions used Duco Cube for trade reconciliation. 
In December 2014, Duco won the award for best new product, reconciliation, at the FOW International Awards. 
In January 2015, Duco was one of seven start-up firms chosen join the Fintech Innovation Lab, a collaboration between Accenture and leading financial institutions in London, that provides mentoring, workshops, networking and other support for early-stage financial technology firms. In September 2015, ICAP increased its investment in Duco through its Euclid Opportunities accelerator, building off of an initial investment it made in 2012. Duco announced an agreement with CME Group in March 2016, further expanding its user base. With CME Group, Duco's reconciliation technology will be used to streamline the complex fee structures in the exchange space. The CME's Duco offering will include its CBOT, NYMEX and COMEX divisions. 
In March of 2016 Duco was named in the European FinTech Top 100, a list of the most promising and innovative fintech companies across the continent.
The company launched a platform for big data analytics and machine learning in March 2018. 
== Products and Services ==
Examples of Duco Cube's reconciliation uses:
*end-of-day data between brokerage or trading firms and exchanges
*key risk and finance controls such as account reconciliations
*static data cleanup such as Legal Entity Identifiers or instrument set-up data
*hedge fund books and records against those provided by their brokers
*system migrations
*complex controls between companies
Duco uses their own software to reconcile contacts in email lists. 
== Key People ==
*Christian Nentwich, co-founder and CEO
*Michael Marconi, co-founder and chief technology officer
*Mireille Dyrberg, COO
*Mark Beeston, chairman
==John Lothian News Interview, April 2015==
Reconcilable Differences: Duco’s Christian Nentwich on what can be done to address reconciliation problems in the financial industry
Christian Nentwich, CEO and co-founder of Duco, says the reconciliation landscape today is behind the times and that large chunks of it are being done manually, sometimes by hundreds or thousands of staff at the bigger brokerage firms.
In some places there is too little reconciliation going on, and in others there is too much, he told John Lothian News at FIA Boca.
== References ==