Hedge Funds are a crucial element of the financial services industry hailing trillions of dollars under management. TradingScreen, a provider of multi-broker and multi-asset class execution management systems (EMS) to the buy side, announced the launch of TradePrime® which incorporates all the key workflows an alternative asset manager requires into single platform, delivered via a Software-as-a-Service (SaaS) model.
TradePrime® is a technical platform connecting TradingScreen’s award winning TradeSmart® EMS to comprehensive order management system (OMS) functionality usually found in locally installed OMS platforms. This breakthrough lets clients avoid the typically long cycle of onsite implementation by leveraging the globally deployed product master, order manager, position server and the network services of Tradingscreen, TradeNet®.
All other services needed to operate a hedge fund – from position collection, to risk, pricing and compliance services – complement this offering, right out of the box. The new functionality lets the buy side manage all of its multiple workflows on a single screen.
This new functionality includes:
• Real time in memory global position keeping
• Multi inventory models for realized and unrealized P&L
• Multi hierarchical levels for position and P&L
• Multi-prime reporting package
• Risk measurement based on multiple models
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• Automatic rebalancing
• Best fit allocation management
• End Of Day (EOD) pricing service
• Start of day and EOD prime broker service
• Connection to leading administrators
• Reconciliation service
These new features bring to the OMS world the same simplicity that TradingScreen brought to the trading world with the launch of TradeSmart®, which created the EMS segment when it launched 11 years ago. TradingScreen’s TradePrime® resolves one of the most difficult challenges the alternative asset managers face – the complexity of integrating the trading-focused EMS, the position- and performance-focused OMS, and the administrator information into a seamless, intuitive workflow.
“The comprehensive OMS functionality in TradeSmart® keeps our customers several steps ahead of the trend of OMS and EMS convergence,” said TradingScreen CEO Philippe Buhannic. “Large alternative asset managers are responding to regulators’ and investors’ demands by introducing increased risk management, reporting and compliance, which needs to be done in a simple and effective manner. TradingScreen has worked extensively during the last three years with buy side partners to develop a series of tools that replicate this new workflow. We are very happy with the reception of this breakthrough concept that surpasses our expectations and testifies to the need for a better approach to these issues.”
2011 hasn’t been a great year for the knights of Wall Street, many hedge fund managers have withdrawn from the pact and new SEC rules mean that hedge funds and investment managers need to report detailed information on their investments and borrowings.