Investment Tech Briefs - 3.20
Texas-based investment firm Barbnet has selected SolutionForge to provide FIX.NET Server 2002 as a securities messaging system. The firm will use the Microsoft-based solution to transmit trade instructions to counter parties via the front office FIX protocol. While Barbnet plans to use the 4.0 version of the protocol for now, SolutionForge's technology allows for version upgrades in the future.
Soros Fund Management LLC, a private investment management firm that serves as the principal advisor to the Quantum Group of Funds, has chosen Algorithmics' Algo Collateral to help the firm manage risk. The enterprise-wide solution includes over-the-counter derivative margining as well as an asset-management module that allows analysis of credit exposures to counter parties, custodians and security issuers. Algorithmics notes that the Soros is the largest hedge fund client that they have ever taken on, according to a press release.
Macgregor and Global Securities Consulting Services have recently formed an alliance to create a solution for fund managers. The solution will combine Macgregor's order-management system, trading platform with GSCS' multi-benchmark transaction cost analysis in order to allow clients to measure and report on best execution practices as well as compare portfolio manager, trader and broker performance across trading desks, countries, securities and industry benchmarks. Macgregor and GSCS also plan to collaborate on developing and integrating pre-trade analytics.
Union Planters Corporation has implemented a wealth-management solution from SunGard Wealth Management Solutions. The open-architecture model includes front-, middle-, and back-office components from SunGard, SmartLeaf and London Pacific Advisors. The solution incorporates financial planning, asset-management and asset-consulting, integration, accounting and reporting to assist UPC's advisors with portfolio management.
Touchstone Investments, a Cincinnati-based financial services firm with $1.2 billion in assets under management in mutual funds, has chosen Brown Brothers Harriman as a global custodian. BBH will provide Touchstone Investments with custody, securities lending and brokerage services. According to a press release, Touchstone hopes to gain technology and expertise from BBH in order to increase asset attraction and gain expense reduction.