Empaxis Introduces Overnight Process Monitoring for Buy-Side Firms

Empaxis, a service provider for asset managers and prime brokerage firms running Advent applications, has launched its Overnight Process Monitoring (OPM) system for hedge funds and other investment advisory firms.

OPM is designed to monitor and validate all processes for firms that are running Axys, APX and Geneva applications as well as other systems. The technology ensures that systems are monitored overnight, validated as successful or unsuccessful and handed off directly to clients or third-party vendors before the start of the following business day, according to Empaxis. OPM monitors these crucial processes while work is logged into the program, potentially eliminating the possibility of failing overnight.

"With the industry moving at such a rapid pace, it is imperative that fund managers do not experience any unnecessary delays that may occur overnight," said Stephen Van de Wetering, CEO of Empaxis, in a press release. "Encountering these types of delays can thwart the progress of an entire day’s work. The Empaxis Overnight Process Monitoring system was developed to solve that problem." Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio