eClerx Launches ISDA CSA Solution
Business processing vendor eClerx has launched the ISDA Credit Support Annex (CSA) Document Risk Review solution to help financial institutions mine information from CSAs for over-the-counter derivatives clearing, company officials say. The offering aims to offer more support for credit and legal risk, optimization of cash and collateral, and operational risk mitigation. Firms can leverage the data pre-trade to ensure derivative trades are priced correctly, and post-trade to optimize collateral movements across counterparties.The new offering features: electronic records of agreements that can be mapped and reconciled to client systems or used as a golden source repository; an operational reporting suite that summarizes discrepancies between systems and electronic CSA records, benchmarks against industry standards and portfolio averages, and isolates legally unenforceable documentation; and an analytics suite for client on-boarding, legal, credit valuation desk (CVA), credit risk, operations and liquidity management.
SS&C GlobeOp Gets Portal and Mobile App Support
Financial services and software provider SS&C Technologies is extending the cloud-based portal and mobile capabilities to its SS&C GlobeOp fund administration service, opening it up to hedge funds, fund of funds, private equity and managed accounts clients, say company officials. The cloud and mobile services were previously limited to SS&C fund administration clients. SS&C Technologies acquired GlobeOp Financial Services and the GlobeOp platform in June 2012. The mobile app is downloadable for free for Apple iOS and Google Android devices via the iTunes App Store and the Android Play store, say officials. The SS&C GlobeOp app helps clients to receive critical data while they are in transit.
SS&C GlobeOp’s client portal and its mobile applications offer real-time access to alternative investment portfolios, risk reports, profit and loss visualization, order management and trading, performance attribution, heat maps functionality, fund of funds liquidity, accounting books and records, investor subscription and redemption workflow, say company officials.
Woodfield Taps Smonik for Reconciliation
Woodfield Fund Administration is using the RECON reconciliation software from Smonik Investment Systems to support the portfolio reconciliation needs of investment management clients, say Smonik officials. The Smonik RECON software targets client onboarding with support for straight-through processing of trade reconciliation from data retrieval to matching and handling exceptions to reporting. Woodfield supports alternative investment strategies and structures, including equity and fixed-income hedge funds, private equity funds and fund of funds ranging from small start-up funds to managers in excess of $1 billion in assets under management.
Olivetree to Use SunGard for Securities Lending Data
Olivetree Financial Group, a provider of brokerage services, is using SunGard’s Astec Analytics to improve the securities lending data that it provides to clients of its OTAS platform, say company officials. The platform is used to analyze multiple data points to formulate trading indicators. Olivetree will use the SunGard analytics securities lending data to help support OTAS users’ trade-timing decisions, alert them to liquidity risks, and provide cost-of-carry metrics.
Interactive’s FutureSource Goes Mobile
Market data vendor Interactive Data Corp. has launched Web and Apple iPad application versions of its FutureSource offering of quotes, charts and news, say officials. Traders, brokers and analysts can now access FutureSource via hosted versions, and BlackBerry, iPad and iPhone apps at no extra cost. The new FutureSource web application requires no software download and minimal bandwidth to run. All symbol lists, settings and workspaces are saved on the server, so users can access them from anywhere by logging in from any browser.
Advise Targets European Filing Directive
Regulatory and investor reporting software vendor Advise Technologies has launched an electronic filing tool for the Alternative Investment Fund Managers Directive (AIFMD) in Europe, say company officials. The new offering is intended to alleviate the filing process for investment advisors and provide a solution conforming to the Annex IV reporting template of the AIFMD and related European Securities and Markets Authority (ESMA) guidance. AIFMD regulates alternative investment funds, including hedge funds, private equity funds, commodity funds and real estate funds. Member states must implement the AIFMD rules by July 22. The AIFMD electronic filing solution is available on Advise’s Consensus RMS platform, which offers a repeatable reporting process. Advise developed this latest solution after creating its Form PF, CPO-PQR, 13F and OPERA solutions, which are also available on the Consensus RMS platform.
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