Europe Hedge Funds Tap Into Cloud10.24.2013
Liquid Holdings Group, a cloud-based technology and managed services provider to hedge funds, has tapped Global Prime Partners to offer the Liquid platform to its significant portfolio of existing European clients as well as all new prime brokerage clients, becoming the exclusive prime brokerage partner of Liquid in Europe.
Global Prime Partners has also selected the Liquid platform to monitor its firm-wide risk exposure to its prime brokerage clients, including hedge funds and other asset managers.
“As we looked to expand our services to the U.K., we came across GPP, and found that their goals and mission of serving the emerging hedge fund space were in line with ours,” said Robert O’Boyle, executive vice president at Liquid Holdings. “We are seeing tremendous traction, as the need for a low-cost institutional quality offering exists in the UK just as it does in the U.S.”
Global Prime Partners has significant penetration with emerging hedge funds and will be a premier partner for Liquid going forward. “We are thrilled to be working together as we are both uniquely focused on providing comprehensive and secure mission critical services to help accelerate the growth of hedge fund managers with a strong pedigree,” said Brian Storms, CEO of Liquid.
Global Prime Partners will gain access to the Liquid platform’s real-time front-office and data management services powered by Liquid’s private cloud, providing their clients with state-of-the-art technology to help decide what to trade, place the trade, monitor compliance and risk, aggregate exposures, track and report P&L and performance, and reconcile trades in one place.
“We are excited to partner with Liquid and offer its Liquid platform to our clients. Hedge funds are looking to us to provide new tools, solutions and knowledge to generate alpha, and the Liquid platform enables us to offer through a single real-time platform with rich capabilities across trading, risk management and reporting in a secure cloud environment, that we believe will greatly benefit our rapidly expanding universe of clients in Europe.” said Julian Parker, CEO of Global Prime Partners. “The platform’s flexibility allows us to address our in-house requirements as well, serving as our central platform to monitor firm-wide risk exposure across our client base.”
Liquid Holdings provides an integrated, next-generation trade order and execution management, real-time risk, reporting and shadow accounting solution for the financial services community.
In addition to cost savings and operational efficiencies, the benefits of the Liquid platform include fast activation, rapid delivery of innovation as well as real-time pre- and post-trade risk monitoring and reporting, powered by cloud computing.
“Hedge funds now need to do more with less, especially emerging hedge funds,” O’Boyle said. “We are a purpose-built cloud solution for the hedge fund community. In addition to providing managed services via the cloud, we perform managed services such as reconciliation, trade breaks, corporate actions, and dividends. It’s a true Platform-as-a-Service, and we work with funds that are either launching or spinning off from other enterprises.”
UK-focused funds had second-worst outflows on record.
O’Hanley said he remained confident in the organic potential of the firm.
The asset manager aims to grow its Xtrackers and passive business globally.
Tradeweb’s credit trading solutions and data will be integrated into BlackRock’s Aladdin.
Despite difficult circumstances, demand for SFDR Article 9 funds remained sustained.