Hedge Funds Get Help

Terry Flanagan

Empaxis launches overnight processing service.

For hedge funds and other buy side entities, outsourcing need not be an all-or-nothing proposition.

Empaxis, which provides service and support for asset managers and prime brokerage firms running Advent applications, has launched an Overnight Process Monitoring (OPM) service which actively monitors and validates processes for firms running Axys, APX and Geneva applications which are all brands under the Advent umbrella.

The OPM service is intended to reduce risk of down time, reduce risk of not being able to trade, and provide a higher service level.

It ensures that all systems are diligently monitored overnight, validated as successful or unsuccessful, proactively worked on if they fail, and seamlessly handed off directly to clients or third-party vendors before the start of the following business day.

“By having checks performed in the middle of the night, they can be resolved prior to the next day,” Stephen Van de Wetering, CEO, Empaxis. “Although hedge funds can do this on their own, it is challenging to staff for it and provide consistent service.”

Firms that service the investment management industry are applying robust delivery models that leverage offshore facilities to deliver round-the-clock capabilities.

Sapient Global Markets, for example, has launched a Global Distributed Delivery (GDD) capability for Advent Geneva, one of the most widely-used investment management platforms.

Sapient Global Markets, an Advent Premier Consulting Partner, is currently standardizing a set of tools and methodologies with which to deliver Geneva products, such as a Metadata Repository for Geneva, an extensive knowledge base of Geneva objects and fields which can be handed over to upstream application groups to design Geneva data feeds.

Geneva customization refers to the exercise of analyzing, developing and implementing interfaces and processes in and around Geneva in order to achieve a high level of end-to-end operating efficiency. Customization efforts include batch process engineering, end of day/start of day process engineering, and interface development (e.g. sourcing and loading corporate action information from market data service providers).

Empaxis is extending its services with recent certification as an Advent Consulting Partner in the Middle East and Asia.

Under the agreement, Empaxis will provide Advent-certified services across the Middle East and Asia, and middle and back office processing and reconciliation services to various clients across the entire EMEA region.

Related articles

  1. Ethereum-based products witnessed one of their most challenging months in September.

  2. Emerging technology may enable a powerful re-imagining of active management.

  3. Year-to-date net inflows reach $712m.

  4. Clients will have the flexibility to build custom tailored workflow solutions.

  5. Asset managers will have a single service for SFDR reporting.