Professional Documents
Culture Documents
Tech On Ology Offices
Tech On Ology Offices
Front Office
Page 2 Research and Analysis
Page 4 Trade Execution and Management
Page 8 Portfolio Management
Middle Office
Page 11 Data Management
Page 13 Risk Management
Page 15 Cash and Collateral Management
Page 16 Securities Pricing and NAV Calculation
Page 17 Investor Relations
Page 18 Trade Reconciliation and Processing
Back Office
Page 19 Accounting
Page 21 Compliance and Reporting
Page 24 Administration
Page 25 IT Security and Support
HEDGE FUND ALERT: 5 Marine View Plaza, Suite 400, Hoboken NJ 07030. 201-659-1700
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
AIM Software
aimsoftware.com
Arialytics
arialytics.com
Aria
Aims to reduce the time it takes to identify, design and review trading algorithms.
Created with new and emerging managers in mind. Allows users to quickly analyze
big-data sets to identify patterns and predictors. Machine-learning component
tweaks models in response to real-time activity. Rye, N.Y., vendor founded in 2010 by
David Marra, previously a principal at Boston Consulting.
Dataminr
dataminr.com
Dataminr
Continually monitors and analyzes publicly available Twitter feeds for information
about companies and investments. Provides customized real-time alerts. Serves
50-plus financial firms with a combined $500 billion of assets. New York vendor,
founded in 2009 by three Yale graduates, has raised $50 million of venture capital.
Deltix
deltixlab.com
TimeBase,
QuantOffice,
QuantServer
Software suite allows quantitative managers to aggregate and analyze vast sums
of data, develop trading algorithms, back-test models and execute trades.
Customers can purchase components separately or in a bundle. Also offers a
hosted version. Clients include Ananta Capital. Employee-owned company, based
in Natick, Mass., was founded in 2005.
EidoSearch
eidosearch.com
EidoSearch
eVestment
evestment.com
Quantum Analytics,
Spectrum Analytics,
Spotlight Analytics
Web-based systems help funds of funds and other investors analyze hedge fund
performance and liquidity. Quantum Analytics is the most powerful and expensive of
the three versions, followed by Spectrum Analytics and Spotlight Analytics. Atlanta
vendor, founded in 2000, has grown by acquiring companies including Fundspire,
HedgeFund.net and PerTrac.
Announced in February 2015 that it was acquiring Code Red, a Boston software firm
that provides research-management products to institutional investors. FactSets
technology matches data sources to identify links between entities, securities, people
and funds. Norwalk, Conn., vendor, founded in 1978, is publicly traded company
specializing in analytical applications for investment firms.
Kensho Technologies
kensho.com
Warren
Online tool analyzes performance of various assets under multiple conditions via
plain-language queries. Cambridge, Mass., company founded in 2013 by a Harvard
Ph.D and a former Google programmer. Secured $10 million of seed capital from,
among others, Google Ventures and Devonshire, Fidelitys private-investment arm.
Ledgex Systems
ledgex.com
Ledgex Research
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
Lucena Research
lucenaresearch.com
QuantDesk
Online portal billed as easily accessible and affordable way for fund managers to
access quantitative tools including advanced pattern-recognition algorithms and bigdata analysis. Product suite includes price forecaster, portfolio optimizer and
hedge finder functions. In November 2014, augmented predictive models with
consumer-travel data from AirSage. Atlanta-based Lucena co-founded by former F15 fighter pilot Tucker Balch, a Georgia Tech professor specializing in artificial
intelligence and machine learning.
Market Prophit
marketprophit.com
Market Prophit
Takes big-data approach to monitoring social media for clues to market sentiment.
Uses proprietary method to weigh bullish and bearish comments on Twitter. Also
ranks posts based on the accuracy of past predictions. Firm based in New York.
Markov Processes
International
markovprocesses.com
Mosaic Research
Management
mosaicrm.com
Gathers feedback and quantifies the value of a firms research vendors. New York
company founded in 2010.
QuantConnect
quantconnect.com
QuantConnect
Cloud-based system designed for startup and smaller quantitative managers. Allows
users to design and back-test trading programs, drawing computing power from
hundreds of servers for fast results. Provides access to historical data on equity
prices and foreign-exchange rates. New York vendor offers multi-tiered pricing based
on size and scope of clients operations. Founders Jared Broad and Shari Rosen
secured financing from angel investors in 2013.
RavenPack
ravenpack.com
Offers two tools designed to harvest structured information from unstructured text
published by leading news and social-media sources, with aim of delivering
machine-readable data. Customizable for various applications, including event alerts
and triggers. Vendor, with offices in London and New York, founded in 2003.
Software AG
softwareag.com
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
ACA NorthPoint
acacompliancegroup.com
Integrates with most electronic-trading platforms using FIX protocol, offering broad
coverage of asset classes including fixed-income instruments and swaps. Offers
user-configurable, rules-based compliance tool that supports pre/post trade and
ad hoc tests, alerts and audit trails. Seamlessly integrates with ACA NorthPoints
portfolio-management system, and comes packaged with its Security Master and
Price Master applications. Vendor known as NorthPoint Financial before being
acquired by ACA Compliance in November 2014.
Advent Software
advent.com
Moxy
In July 2015, Advent was acquired by SS&C Technologies in a $2.6 billion deal
creating a financial-technology powerhouse serving more than 10,000 clients.
Advents installed or hosted system connects users to multiple trading partners,
including dark pools, and performs a range of functions covering multiple asset
types. Supports algorithmic trading of stocks and options, providing access to 250
algorithms from 25 brokers. Also available as front- to back-office system that
includes Advent Rules Manager and Advent Portfolio Exchange.
Apex Technologies
apexfundservices.com
Vector,
Vision
Developed by firm best known as a fund administrator. Multi-asset ordermanagement system, Vector, syncs with portfolio-management system, Vision,
which provides real-time position monitoring and reporting. Designed to work with
Linedatas execution-management system. In March 2014, Vision augmented with
NAV calculator Tzero that values assets within three hours of market close. Londonbased Apex administers $28 billion of hedge fund assets via 34 offices globally.
Everest
Bloomberg
bloomberg.com
Front- to back-office suite specifically designed for hedge funds and other buyside shops. Hosted platform suitable for range of assets. Entry-level version, Hedge
Fund Tool Box (HBOX), is available for funds with less than $250 million.
Calypso Technology
calypso.com
Calypso
Front- to back-office investment-management system from one of the leading buyside technology vendors. Bundles multiple products including Charles River Trader
(order execution), Charles River Manager (portfolio management), Charles River
Settlement (trade confirmation and settlement) and Charles River Compliance (preand post-trade monitoring). In October 2014, began offering users the option to
receive Interactive Datas corporate-action service through investment book of
record (IBOR) product. Burlington, Mass., vendor has 350-plus clients worldwide.
Citadel Technology
citadeltechnology.com
Citco
citco.com
Citco AExeo
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
Cymba Technologies
cymba-tech.com
Derivation Software
derivation.co.uk
Derivation
Developed as front-office tool, but has expanded into front- to back-office system
handling portfolio-management, risk-management and accounting functions. U.K.
firm, founded in 1996, began targeting buy-side managers in 2005. Client roster is
heavy on hedge funds, including Nan Fung Investment and Skyline Capital.
Eze Software
ezesoft.com
Eze OMS,
Eze JumpStart
Fidessa
fidessa.com
Minerva
FinlogiK
finlogik.com
Software suite designed to achieve fast processing, timely pricing and evaluation
of trades using financial models, market-data management and risk management.
Montreal vendor founded in 1998.
Fiserv
fiserv.com
FIX Flyer
fixflyer.com
FIX Engine,
Drop Copy Service
FIX Engine facilitates high-speed trades (less than 25 microseconds) via links to
brokers, exchanges and electronic-trading networks. Drop Copy Service provides
connections to a variety of trading partners including Bloomberg and Goldman
Sachs for trading equities, options and fixed-income securities. New York vendor
founded in 2003.
FlexTrade Systems
flextrade.com
FlexTrader
Indata
indataweb.com
Intelligent Portfolio
Management (iPM)
InfoReach
inforeachinc.com
InfoReach Trade
Management System,
HiFREQ,
InfoReach Prelude
ION Trading
iontrading.com
Spectrum Treasury
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
ITG
itg.com
Linedata
linedata.com
Linedata Longview,
Linedata Global Hedge
Portfolio Manager,
Linedata Trader+
Longview software designed to manage trade execution for complex users, such
as investors with multiple prime brokers or complicated client mandates. Portfoliomanagement system, previously called Beauchamp, performs front- to back-office
tasks and supports multiple currencies, security types and investment strategies.
Trader+ is a hosted system that assists traders with pre-trade compliance checks,
order creation, execution management and other tasks. French firm, founded in
1998, has been adding hedge fund clients at fast clip.
Liquid Holdings
liquidholdings.com
LiquidTrade
Broker-neutral platform combines low-latency trading tools with ordermanagement capabilities to ensure trading complies with a managers investment
policy. Allows clients to store full audit trail of transactions and automates
application of restricted lists, pre-trade compliance rules and fair-allocation rules.
New York vendor, founded in 2012, cited by Aite Group as an up-and-comer among
front-office technology providers. In early 2015, introduced mobile app giving
managers remote access to full range of portfolio, risk and reporting functions.
Molecule Software
molecule.io
Molecule
Designed for smaller commodity-trading shops specializing in oil, gas and power
contracts. Handles thousands of exchange-traded and over-the-counter
instruments. Cloud-based system allows managers to plug in and begin trading the
same day. Houston vendor founded in 2012 by chief executive Sameer Soleja, who
previously developed energy-trading software for EnForm Consulting (now part of
SunGard), BearingPoint and Stryve Advisors.
Neovest
neovest.com
Neovest 7.0
Performs pre-, post- and in-trade analytics along with order- and executionmanagement functions. Supports high-frequency global operations with multiple
prime brokers. The Orem, Utah, vendor has been a unit of J.P. Morgan since 2005.
NinjaTrader
ninjatrader.com
NinjaTrader
Nirvana Solutions
nirvanasolutions.com
Nirvana Solutions
OpenLink
olf.com
Findur
Software performs virtually all front- to back-office functions for firms that trade
agricultural commodities, metals and over-the-counter derivatives. Installed and
hosted versions available. Uniondale, N.Y., vendor sold in 2011 to private equity
firm Hellman & Friedman by Carlyle Group.
Orc Group
orc-group.com
Orc Trader
Portware
portware.com
Portware Enterprise,
Alpha Vision
Quantica Trading
quanticatrading.com
Cloud Trader
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
REDIPlus Execution
Management System (EMS)
FUNDpliance
Designed for small and mid-size hedge funds. Performs real-time functions
including trade-order management, profit attribution, risk analysis, reconciliation,
accounting and compliance. Toronto vendor is affiliated with fund administrator
SGGG Fund Services.
SimCorp
simcorp.com
SimCorp Dimension
Sky Road
skyroad.com
SS&C Technologies
ssctech.com
In July 2015, acquired Advent for $2.6 billion in a deal that combined its more than
6,000 financial-services clients with Advents 4,300 customers, which include
hedge funds, administrators, prime brokers and wealth managers. Global Wealth
Platform is a fully integrated front- to back-office system designed for long-only
portfolios. Nearly half the clients use cloud-based version. Can be integrated with
SS&C Market Trader or other vendors execution-management platforms. Windsor,
Conn., vendor markets some 60 products and has built a top fund-administration
business via acquisitions including 2012 purchase of GlobeOp.
Front Arena,
Hedge360
Front Arena software allows traders and asset mangers to trade and manage
positions of listed securities. Hedge360, available in a hosted version, is a front- to
back-office system that includes Front Arena and exploits SunGards middle- and
back-office capabilities. Recent Hedge360 converts include global-macro manager
Altreaus Capital. SunGard, formed via spinoff from Sun Oil in 1983, is among the
largest software and technology companies. In 2005, a consortium led by Silver
Lake Partners bought the Wayne, Pa., vendor for $11.4 billion.
Tora Compass
Trading Technologies
tradingtechnologies.com
X_Trader,
TT SIM,
X_Risk
TradingScreen
tradingscreen.com
TradePrime
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
ACA NorthPoint
acacompliancegroup.com
Advent Software
advent.com
Aura OMS
Axioma
axioma.com
Broadridge Financial
broadridge.com
CDO Software
cdosoftware.com
CDO Tools
Suite of software for managing portfolios of CDOs and CLOs. Offerings include: CDO
Director for managing deals; CDO Grid for speeding up the modeling and analysis
of deals; and CDO Investor for monitoring and valuing issues. Other products in the
suite are CDO Reporter, CDO Scheduler and CDO Tracker. In 2012, founders of the
London vendor sold the rights to their software to a team backed by Neil Carthy.
Citadel Technology
citadeltechnology.com
Based on systems Citadel developed for its own hedge funds. Offers real-time data
on traded positions, profits and losses and foreign-exchange exposure, as well as
risk. Technology business, which Citadel launched in 2012, is headed by Stuart
Breslow, who previously led ConvergEx RealTick.
ClearStructure Financial
Technology
clearstructure.com
Sentry PM,
ClearStart
Enfusion Systems
enfusionsystems.net
Enfusion Integrata
Designed with hedge funds in mind, system integrates trading with middle- and
back-office functions, including links to prime brokers and administrators.
Capabilities include order management, profit-and-loss calculations, collateral
management, risk monitoring, compliance and reporting. Chicago vendor got
started in 1997. Clients include Balestra Capital and Pentwater Capital.
Eze Software
ezesoft.com
Tradar PMS
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
ALERT
Product
The Skinny
Fidessa
fidessa.com
Tesseract
Imagine Software
derivatives.com
Incapture Technologies
incapturetechnologies.com
Rapture
IVP Stratus
ITG
itg.com
Designed specifically for hedge funds, hosted system was introduced in 2014 to
perform trade-order and execution functions, clearing, portfolio management,
analytics, research and compliance for a wide range of assets worldwide. New
York vendor founded in 1987 with launch of its POSIT equity trade-crossing
system. Acquired trading-technology developer MacGregor in 2005.
Ledgex Systems
ledgex.com
Lightkeeper
lightkeeper.com
Lightkeeper
Software provides users with dynamic views of portfolios based on data from
administrators, custodians, prime brokers and internal sources. Enables
performance, risk, exposure and attribution analysis. System can be accessed on
mobile devices. Boston vendor launched in 2008 after founders Danny Dias and
Larry Longo sold their Tamale research-management software to Advent. Prior to
that, the partners ran a hedge fund firm called 033 Asset Management.
Markit
markit.com
Manages data for portfolios of bank loans, asset-backed securities and other types
of bonds, credit-default swaps, equities and other assets. Performs reporting,
compliance, performance-analysis and agent-syndication functions. London
vendor founded in 2003 as a credit-derivatives pricing service. In July 2015,
acquired Mosaic, a provider of software for post-trade securities processing.
Owned by a consortium including Bank of America, Goldman Sachs and J.P.
Morgan.
Misys
misys.com
Sophis Value
So-called straight-through-processing tool designed to handle most front- to backoffice functions. Performs real-time NAV and risk calculations for a variety of asset
classes. Recent enhancements include addition of robust investor-book-of-record
application. About half the clients for Sophis Value are hedge funds, among them
BTG Pactual Asset Management and Dexia Asset Management. London vendor,
founded in 1979, acquired Sophis in 2011. The following year, Misys was acquired
by private equity firm Vista Equity Partners.
Murex
www.murex.com
MX.3
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
10
ALERT
Product
The Skinny
Novus
novus.com
Novus
Numerix
numerix.com
Numerix CrossAsset
Orchestrade Financial
Systems
orchestrade.com
Orchestrade
Protozoa
In January 2015, teamed with Quantitative Brokers, a bond and futures brokerage
specializing in algorithmic trades, to develop a system that performs real-time,
relative-value analytics for fixed-income traders. RiskVals cloud-based system
facilitates multi-strategy, multi-currency bond trading. New York vendor founded in
2001 by Jordan Hu, whose resume includes work at Citigroup, Goldman Sachs and
Salomon Brothers.
Tethys Technology
tethystech.com
Execta
Tethys flagship product performs real-time portfolio-management, tradeexecution and risk-management functions, and gives users access to all major
algorithmic- and program-trading desks, sell-side traders and floor brokers.
Supports trading of stocks, equity derivatives, convertible bonds and currencies.
Available as an installed or hosted system. New York vendor founded in 2000.
thinkFolio
thinkfolio.com
thinkFolio
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
11
ALERT
Product
The Skinny
ACA NorthPoint
acacompliancegroup.com
Securities Master provides a repository for managing data on terms and pricing for
most types of securities. Price Master performs pricing calculations and supports
what-if analysis. Data Warehouse consolidates data from multiple systems and
service providers onto a central reporting platform. Vendor was called NorthPoint
Financial until it was acquired by ACA Compliance in November 2014.
Advent Software
advent.com
Tamale RMS
Captures, organizes and shares research that managers receive or create. San
Francisco-based Advent, a leading vendor of investment-management technology,
was acquired in July 2015 by SS&C Technologies for $2.6 billion.
AIM Software
aimsoftware.com
Stores, secures and validates data brought in through a firms various operations.
Creates a golden copy or single source of truth for data derived from all
internal and external sources. Austrian vendor founded in 1999.
Arcesium
arcesium.com
Arcesium
D.E. Shaw spinoff launched in first quarter of 2015, with Blackstone as a partner.
Offers highly automated suite of post-trade services based on technology D.E.
Shaw developed for its own hedge funds. Services include trade capture, data
warehousing and valuation functions across a range of asset classes. First two
clients are D.E. Shaw and Blackstone Alternative Asset Management, with a
broader marketing campaign set for late 2015. Has staff of more than 300.
Asset Control
asset-control.com
AC Plus
Designed to manage high volumes of data from multiple sources. Cleans and
integrates data to ensure consistency of internal and external analysis and
reporting. Netherlands company, founded in 1991, among the first datamanagement vendors to target financial-services industry. Owned by private equity
firm Marlin Equity Partners.
Axiom Software
Laboratories
axiomsl.com
Broadridge Financial
broadridge.com
Broadridge Analytics
Master,
Broadridge Security Master,
Broadridge Price Master
Code:Red
coderedinc.com
Code:Red RMS,
IdeaNet
Code:Red RMS indexes research, models, events, contacts and emails related to
investment opportunities. IdeaNet allows portfolio managers to receive emails from
selected brokers, categorize the information by symbol and source, and tie
information to specific opportunities. Boston vendor launched 10 years ago.
Anova
Eagle ACCESS
Exegy
exegy.com
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
12
ALERT
Product
The Skinny
GoldenSource
thegoldensource.com
360 EDM
Product suite integrates and standardizes data from internal and external sources
to present holistic view of business. New York vendor founded in 1990.
Indata
indataweb.com
iPM Epic
Manages giant data sets in any format from internal and external sources.
Captures, optimizes, stores, searches, shares, analyzes and offers visualization of
the data for front-, middle- and back-office purposes. Greenwich, Conn., vendor
has buy-side clients with assets ranging from $1 billion to $100 billion.
IVP Recon,
IVP Polaris,
IVP Security Master
Investment Data
Management
Mackey
mackeyrms.com
MackeyRMS
Data Warehouse
OneMarketData
onetick.com
OneTick
Vendors flagship product stores, retrieves and analyzes real-time and historic tick
data for any type of asset. Hoboken, N.J., firm founded in 2005.
QED Investment
Management System
Wells Fargo
wellsfargo.com
RealSTP
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
13
ALERT
Product
The Skinny
Alpha Theory
alphatheory.com
Alpha Theory
Determines idea quality, asset quality and position size required to meet users
risk-adjusted return requirements. Charlotte vendor founded in 2005 by former
Credit Suisse and Lehman Brothers equity research analyst Cameron Hight.
ATA RiskStation
atariskstation.com
ATA RiskStation
Axiom Software
Laboratories
axiomsl.com
RiskMonitor
Axioma
axioma.com
Axioma Risk
Broadridge Financial
broadridge.com
Risk Master
Designed to manage, monitor and report on a portfolios risk exposures for most
credit-related asset classes. Delivered with Numerix Cross Asset Library system.
Vendor gained foothold in hedge funds via 2011 acquisition of Paladyne.
Rebranded Paladyne products under Broadridge name in 2014.
ConceptOne
conceptonellc.com
Provides real-time risk analytics and reporting, including liquidity exposures and
on-the-fly stress-testing. New York vendor formed via 2011 merger of Risk
Resources and Concept Capital Fund Services. Chairman Ken Grant has held top
risk-management positions at SAC Capital and Tudor Investment.
Integrates data from internal and external sources on a real-time basis to report on
exposures, profits and losses, liquidity, stress tests and more. Jersey City, N.J.,
vendor founded in 1999 by Gary Auerbach, who previously oversaw hedge fund
practice at MicroModeling Associates, now part of Dell Professional Services.
Financial Tracking
Technologies
financial-tracking.com
Fiduciary Risk product monitors risks at the firm, portfolio and position levels to
ensure prudent risk management and adherence to investment policy. Dispersions
tool tracks swings in the value of a portfolio. Counterparty Risk monitors
managers exposures to counterparties. Portfolio Pumping product tracks trading
volume in a particular issuer as a percentage of total daily trade volume. Riverside,
Conn., vendor founded in 1999.
IBM
ibm.com
Algo Risk
An application with a web-based option that combines what-if analyses and besthedge recommendations with firm-wide risk-management capabilities.
Investor Analytics
investoranalytics.com
Investor Analytics
Liquid Holdings
liquidholdings.com
LiquidMetrics
Login
www.login-sa.com
Login-Acumen
Software performs real-time market-risk, credit-risk, liquidity-risk and settlementrisk management tasks for most asset classes. French vendor, founded in 1988,
works in partnership with Oracle Financial Services Software.
Misys
misys.com
iSophis
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
14
ALERT
Product
The Skinny
MSCI
msci.com
RiskMetrics RiskManager,
BarraOne
Both systems identify, measure and manage risk associated with wide range of
financial instruments by applying value-at-risk methodologies and stress testing.
They perform what-if analyses and other functions to help rebalance or hedge a
portfolio. Publicly traded vendor, best known for its international stock indexes,
entered risk-management arena via 2010 acquisition of RiskMetrics, whose model
originally was developed by J.P. Morgan.
Murex
www.murex.com
MX Risk Manager
System for managing credit risk, market risk and liquidity risk. Paris vendor,
founded in 1986, caters mainly to banks and broker-dealers, but also markets
portfolio-management technology to buy-side firms including hedge funds.
NewOak Capital
newoak.com
OpenRisk
Assesses cash-flow risks of mortgage bonds and other structured products. Part of
a suite that includes a market-data interface and a tool that monitors servicers.
New York firm founded in 2008 by Ron DVari, formerly head of structured finance
at BlackRock. NewOak also has advisory and asset-management units.
Novus
novus.com
Performs factor and scenario analysis, stress tests and complex value-at-risk
calculations. Vendor offers separate tool for performance attribution. Founded in
2007, firm counts nearly 100 clients globally with a combined $2 trillion of assets.
Ortess
ortess.com
Xcellerate Algo
Designed to help manage risk and decision-making for asset managers that
specialize in algorithmic trading of foreign-exchange instruments. Ortess also
offers Xcellerate Deal Runner, which handles risk management and trade capture
for mortgage bonds. New York vendor founded in 2007.
Patsystems
patsystems.com
Portfolio Science
portfolioscience.com
RiskAPI
S&P Capital IQ
capitaliq.com
Portfolio Solution
SAS
sas.com
High-Performance Risk
Sky Road
skyroad.com
StatPro
statpro.com
StatPro Revolution
Web-based system analyzes performance and risk for hedge fund operators and
other managers of portfolios containing stocks and bonds. Reports can be shared
with investors over the web. Publicly traded London vendor was founded in 1994.
Clients include J2 Capital and Viniculum Fund Management.
SunGard
sungard.com
APT
System for risk analysis and reporting, covering position- and portfolio-level
information for multiple asset types. Vendor, based in Wayne, Pa., among largest
financial software and technology companies.
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
15
ALERT
Product
The Skinny
TFG Complete
Traiana
traiana.com
CreditLink
Connects prime brokers, execution brokers and buy-side firms to provide a central
repository for real-time monitoring of over-the-counter foreign exchange and
exchange-traded derivatives. New York-based vendor is a unit of inter-dealer
broker ICAP, which in 2013 sold a minority stake to seven bulge-bracket
brokerages that are heavy users of Traianas services.
Product
The Skinny
Enso Financial
efmactive.com
Enso
HazelTree Treasury
Management
hazeltree.com
Treasury Management
Solution
IVP Treasury
Helps managers monitor margin lending, stock lending, collateral and cash
positions. Includes PB uplift function that quantifies potential benefits of
switching prime brokers.
Ledgex Systems
ledgex.com
Ledgex Liquidity
Lombard Risk
lombardrisk.com
Colline
Software handles collateral management and clearing functions for the exchangetraded-funds, repo and securities-lending arenas. London vendor offers other
products that perform compliance and risk-management tasks.
Murex
www.murex.com
MX Collateral Manager
Omgeo
omgeo.com
Omgeo ProtoColl
S3 Partners
s3blacklight.net
S3 Blacklight
SunGard
sungard.com
Apex Collateral
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
16
ALERT
Product
The Skinny
AIM Software
aimsoftware.com
Financial Tracking
Technologies
financial-tracking.com
Price/Valuation of Holdings,
Valuation Testing
Price/Valuation tool alerts users when a security has a stale price or becomes
illiquid. Valuation Testing monitors the sale price of a security vs. prior-day level,
and sends alert if the difference is outside client-determined boundaries.
FinancialCAD
fincad.com
ION Trading
iontrading.com
Provides pricing coverage for bonds, futures, options and mortgages. Furnishes
users with basis-spread, yield-spread, asset-swap, option-adjusted-spread,
interpolated-yield-spread and discount-margin pricing models. London vendor,
founded in 1998, acquired Financial Software Systems of Horsham, Pa., in 2013.
Linedata
linedata.com
Navquest
Milestone Group
milestonegroup.com.au
SunGard
sungard.com
FX TCA
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
17
ALERT
Product
The Skinny
Backstop Solutions
backstopsolutions.com
Backstop Solutions
Harvest
hvst.com
Harvest Exchange,
Harvest Private
Harvest Exchange is a free online network where investors and professional money
managers can exchange research and ideas. It has picked up 85,000 users since
launching in December 2013. Harvest Private is an investor-relations tool marketed to
hedge funds and other asset managers. It offers a secure Web-based platform
through which managers can communicate with existing and prospective investors.
Harvest Private counts about 50 fee-paying clients, including a number of large fund
operators. The Houston vendor, founded in 2012, is backed by hedge funds including
Arrowgrass Capital, GoldenTree Asset Management and Third Point.
Ledgex Systems
ledgex.com
Ledgex CRM
Rolled out stand-alone application in March 2015. Web-based tool automates work
associated with investor relations, sales, marketing and client-service teams at
funds of funds, family offices, hedge funds and other asset managers.
ProTrak International
protrak.com
Software enables users to view all aspects of investor accounts, keep track of
fund-raising prospects and produce reports on client activity. New York vendor
founded in 1986.
SimCorp
simcorp.com
Coric Client
Communications
Software assists asset managers with client communications and reporting. Coric
Web Reporter allows clients to access reports online. Copenhagen company
founded in 1971. In 2014, SimCorp acquired Equipos, a Boston firm that developed
the Coric products.
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
18
ALERT
Product
The Skinny
ACTioN,
StaARS,
RecCollect
Fiserv
fiserv.com
TradeFlow
Manages post-trade process, monitoring and measuring the flow of securities and
cash transactions for entire firm. Thirty-year-old financial-technology giant, based
in Brookfield, Wis., was formed via merger of First Data Processing and Sunshine
State Systems.
ION Trading
iontrading.com
ION.NET
Allows traders of cash, futures, swaps and repo products to operate in multiple
dealer-to-dealer and dealer-to-customer markets. System includes the following
tools: Auto-Hedger, which automatically submits hedges to a specified market on
receipt of a trade confirmation; Quote Editor, which can be used to switch quotes
on or off, edit quotes and apply skew factors to quotes; Virtual Market, which
allows users to view the aggregated order books of securities traded on any
market that is integrated with IONs MarketView network. London vendors tradefinancing tool, Anvil, helps automate repo and other financing functions.
Omgeo
omgeo.com
SS&C Technologies
ssctech.com
Handles processing and general-ledger accounting for trades of debt products and
derivatives including interest-rate swaps, swaptions, credit-default swaps, totalreturn swaps, foreign-exchange options, equity swaps and equity-index options.
Publicly traded vendor, based in Windsor, Conn., acquired Advent Software in July
2015 for $2.6 billion.
Traiana
traiana.com
ClientLink
i-Recs
Software and client-server database match positions and balance trades and
cashflows for a wide range of financial instruments. Also handles margin-account
reconciliation for listed and over-the-counter derivatives. Reconciles profit-loss
statements with those of external service providers. U.K. vendor founded in 2007.
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
19
ALERT
Product
The Skinny
Advent Software
advent.com
Designed specifically for investor partnerships that need to allocate profits, losses
expenses and tax obligations among multiple investors. Can be configured for a
range of fund structures, including onshore and offshore vehicles and private
equity funds. In July 2015, Advent was acquired by SS&C Technologies in a $2.6
billion deal that created a financial-technology powerhouse serving more than
10,000 clients.
Cogency Software
cogencysoft.com
HiPortfolio
Fiserv
fiserv.com
Ingenious Initiatives
pennyitworks.com
Penny-IT Works
Designed specifically for hedge fund managers and fund administrators. System
combines full range of fund, investor and partnership accounting functions. Can
handle complex master-feeder structures and complicated fee arrangements.
Recently upgraded to cover compliance reporting. Average subscription fee for
hedge funds: about $1,000 a month. Mount Kisco, N.Y., vendor founded in 2004 by
Ron Kashden, who once headed software development at SAC Capital.
Linedata
linedata.com
Linedata Chorus,
Linedata Icon,
Linedata Mfact
Liquid Holdings
liquidholdings.com
LiquidView
MultiFonds
www.multifonds.com
MultiFonds
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
20
ALERT
Product
The Skinny
PortfolioShop
portfolioshop.com
ReconAdvantage
SS&C Technologies
ssctech.com
AdvisorWare,
AdvisorWare Enterprise,
Total Return
AdvisorWare designed for hedge funds, funds of funds and private equity funds.
Enterprise version allows an entire firm to share securities, pricing, currency and
risk-management data. Total Return performs portfolio-management, investmentaccounting, partnership-accounting and general-ledger functions for family offices,
hedge funds, funds of funds and private equity funds. Publicly traded vendor,
which bought Advent for $2.6 billion in July 2015, also has built top-tier fundadministration business via acquisitions including 2012 purchase of GlobeOp.
SunGard
sungard.com
VPM,
Investran
VPM stores data including cost basis and other tax-relevant details for stocks,
bonds, futures, bank debt, repos and swaps. Investran designed more for funds of
funds and family offices than single-manager hedge funds. Analyzes investments,
facilitates due diligence and automates reporting by serving as book of record.
Wayne, Pa., vendor, formed via spin-off from Sun Oil in 1983, is among largest
software and technology companies. Acquired by Silver Lake Partners-led
consortium in 2005 for $11.4 billion.
TPG Software
tpgsoftware.com
TPG Trader
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
21
ALERT
Product
The Skinny
Helps ensure compliance with codes of ethics and meet requests of SEC
examiners. Functions include pre-clearing of trades, flagging conflicts of interest
and certifying transactions. Vendor, founded in 2002, caters to asset managers in
the U.S., Brazil, Europe, and Asia. Acquired NorthPoint Financial in November 2014,
adding suite of investment-management technology products.
ACA NorthPoint
acacompliancegroup.com
Advise Technologies
advisetechnologies.com
Vault DMS,
Consensus RMS
Axiom Software
Laboratories
axiomsl.com
ControllerView
Bloomberg
bloomberg.com
Bloomberg Compliance
Center
Catelas
catelas.com
Citicom Solutions
citicomsolutions.com
Citicom Assure
Compliance Science
complysci.com
ConceptOne
conceptonellc.com
RegERM
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
22
ALERT
Product
The Skinny
Confluence
confluence.com
Culls data from trading systems to automatically complete Form PF. Pittsburgh
vendor, founded in 1993, is a pioneer in fund-administration technology. It offers
similar products to handle CPO-PQR and AIFMD reporting requirements.
Cordium
cordium.com
Compliance Elf,
ComplianceTrak
Compliance Elf allows financial institutions to build intranet system that monitors
employees personal trading, gift giving and political contributions.
ComplianceTrak helps fund managers and brokers meet regulatory requirements
of the CFTC, Finra, SEC and U.K.s Financial Conduct Authority using a calendar
that automatically emails reminders of upcoming compliance deadlines. New York
vendor formed in 2013 via merger of EvenWheel Solutions and an entity combining
IMS Group and HedgeOp.
Crowdentials
crowdentials.com
Crowdfunding Compliance
Designed to ensure that funds marketed under Title 2 and Title 3 of the JOBS Act
accept capital only from accredited investors. Cleveland vendor launched in 2013
with backing from business incubator FlashStart.
DataArt
dataart.com
Form PF Application
Automates filing of Form PF. Offered free-of-charge by the New York vendor, which
develops software for various industries. Offers similar application to help
managers meet new European Union reporting requirements. DataArt partnered
with OpsCheck in March 2015 to launch a Web-based task-management tool.
Decryptex Financial
Laboratories
decryptex.com
Decryptex
Digital Reasoning
digitalreasoning.com
Synthesys
EFM Suite
Reporting applications help fund operators and other asset managers deliver
results to prime brokers. Suite includes web-based FailSafe system that displays
pending trades, trades at risk of failing and failed trades. New York firm founded in
1998.
Eze Software
ezesoft.com
Eze Compliance
Fidessa
fidessa.com
Sentinel
Financial Tracking
Technologies
financial-tracking.com
Software suite performs more than 20 compliance functions, from flagging suspect
trades and guarding against client favoritism to tracking personal trading and
campaign donations by employees. Vendor, based in Riverside, Conn., founded in
1999. In 2013, U.S. Patent and Trademark Office awarded software patents to
founder Anthony Turner.
Global Relay
globalrelay.com
Gordian Compliance
Solutions
gordiancompliance.com
Gordian Portal
Designed to help investment firms and brokers meet SEC and Finra regulatory
requirements. Handles such functions as recordkeeping, monitoring of employee
activities and listing compliance tasks. Vendor based in San Francisco.
IVP Raptor
Allows funds to automatically file Form PF and many other disclosures required by
regulators in the U.S. and Europe. Product has 30-plus clients, including Michael
Dells MSD Capital. New York firm, founded in 2000, specializes in technology for
hedge fund operations.
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
23
ALERT
Product
The Skinny
ION Trading
iontrading.com
ITG
itg.com
ITG Compliance
Linedata
linedata.com
Disclosure Manager
In October 2014, French vendor rolled out automated compliance system that
monitors and detects disclosures related to the holdings of fund managers. The
service is based on legal information from Derivative Services, an affiliate of law
firm Allen & Overy.
Misys
misys.com
Mosaic Research
Management
mosaicrm.com
Research Compliance
Monitor
Software allows investment firms to capture records of all research meetings and
to track research usage. Vendor, founded on 2010, mainly focuses on hedge funds.
ComplianceGuardian,
Blue Sky Solution System
Orical
orical.org
Pico Trading
picotrading.com
Regulatory Reporting
RedOwl Analytics
redowlanalytics.com
Reveal
StatPro
statpro.com
StatPro Revolution
Allows managers to easily share portfolio- and risk-analysis results with clients
and service providers. Cloud-based system is frequently updated with new analytic
tools. Most recent update, in February 2015, was 62nd version. London vendor
founded in 1994.
Traiana
traiana.com
TR Connect
Vermilion Software
vermilionsoftware.com
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
24
ALERT
Product
The Skinny
Quantum
Fiserv
fiserv.com
Advantage Fee
Performs billing, invoicing and revenue management for institutions with complex,
changing fee structures.
Koger
kogerusa.com
New-Generation Transfer
Agency System (NTAS)
Handles investor-registration, cash-management, trade-processing, feeprocessing, compliance and reporting functions. Twenty-year-old vendor based in
Paramus, N.J.
Wallstreet Suite
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
Hedge Fund
25
ALERT
Product
The Skinny
2Secure
2secure.biz
Abacus Group
abacusgroupllc.com
FLEXDrive,
StorageBurst,
Abacus Cloud Panel
EzeCastle Integration
eci.com
FSMLabs
fsmlabs.com
Timekeeper
Gravitas
gravitas.co
Designed for small and mid-size fund operators, cloud-based system supports a
range of data-storage and reporting functions. New York vendor, founded in 1996,
also offers risk-management and data-security technology. Hired Omar McKenzie
in early 2015 as chief information security officer to oversee cybersecurity efforts.
InfoHedge Technologies
infohedge.net
Tribeca Technology
www.tribeca-it.com
Cloud-based tool copies data from managers servers and makes it available in the
event of system failures. London firm markets technology-support services
specifically to hedge funds, with clients in Asia, Europe and the U.S.
To start your FREE trial subscription, return to HFAlert.com and click on Free Trial.
Or call 201-659-1700. You can also complete the Free Trial Coupon on the last page of this newsletter and fax it to 201-659-4141.
q E-mail
DELIVERY ADDRESS:
Name:
Company:
Address:
City/State/Zip:
Country:
Phone:
E-mail:
q Mail