Front and Back Offices Converge11.15.2011
TradingScreen launches hedge-fund-in-a-box platform.
Alternative asset managers have had to wrestle with multiple systems for trading and middle- and back-office tasks such as risk management and accounting.
Eliminating that hassle is the objective of TradePrime, a new platform that’s been launched by TradingScreen.
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.
“With the launch of TradePrime, TradingScreen aims to solve the problem hedge funds face of needing to combine and to consolidate all EMS and OMS functionality and downstream interaction with administrators and prime brokers via a single, broker-neutral solution that spans all asset classes,” Philippe Buhannic, CEO of TradingScreen, told Markets Media.
TradePrime is a technical platform connecting TradingScreen’s TradeSmart EMS to order management system (OMS) functionality usually found in locally installed OMS platforms.
All other services needed to operate a hedge fund – from position collection, to risk, pricing and compliance services – complement the offering.
The new functionality lets the buy side manage all of its multiple workflows on a single screen, said Buhannic.
This includes real time global position keeping, multi-prime reporting, and risk measurement based on multiple models.
“The three main drivers for the development of TradePrime are the trend of the convergence of the EMS and OMS, seamless integration between asset classes, and the desire from clients to have a comprehensive view of workflows on a single screen deployed on a SaaS basis,” said Buhannic.
TradingScreen provides trading and execution management infrastructure and a global network enabling both buy side institutions and sell side firms to connect to each other, Clients include traditional asset managers, alternative asset managers, private banks and brokers.
“TradePrime is the alternative investment manager business line dedicated to providing hedge fund solutions for execution management and now order management system (OMS) functionality,” said Buhannic.
TradeSmart is the TradingScreen execution management system (EMS) that is the company’s flagship interface for buy-side users. TradingScreen also offers an automated, Excel-based interfaced called TradeExcel for customizable programmatically generated order creation and execution, a FIX gateway, TradeFIX, and an API, TradeAPI.
The Pyth network is designed to bring real-world data on-chain on a sub-second timescale.
Jefferies and three fund managers will provide CLO equity capital and warehouse funding for new issues.
Pyth is built on a blockchain to handle receipt and distribution of fast-moving data.
CEO said significant loss relating to the failure of a US-based hedge fund is unacceptable.
The fund will leverage the platform to aide its AI-based strategies for the currency markets.