Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, and LiquidityBook, a full suite financial technology company with customized solutions for securities firms and market participants, announced a strategic partnership to host LiquidityBook's complete buy-side solution, LBX, in the AbacusFLEX private cloud environment.
The partnership will offer AbacusFLEX clients access to LBX, which brings together order management, portfolio management, trading, network connectivity, compliance, and post-trade processing in one simple and reliable product. LBX handles orders across asset classes and currencies as well as multiple prime brokers and is accessible 24/7. LiquidityBook developed LBX to help clients adapt to a constantly evolving market environment by providing a platform that consistently utilizes the latest technology. Enhancements and upgrades are seamless and there are never any professional fees for customizations.
The single, hosted LBX platform provides global FIX and non-FIX connectivity directly to brokers. It also contains a regulatory compliance module, offering Value-At-Risk (VAR) calculations, stress testing, reporting and alerting capabilities, along with shadow books and records.
AbacusFLEX™ provides financial services firms with a comprehensive hosted IT solution to manage their IT infrastructure and applications. The platform enables firms to host all aspects of their technology in secure and redundant off-site data centers.
"The buy-side, and hedge funds in particular are seeking solutions in today's market structure that will provide them with the most efficient overall workflow," said Rick Goldenberg, Managing Partner at LiquidityBook. "Abacus Group allows us to provide our full buy-side platform to our clients in a secure, private cloud environment, one that is highly regarded throughout the hedge fund sector."
"Today's financial environment is more and more difficult for hedge funds to stay afloat due to the high level of regulatory compliance and government oversight," said Art Murphy, Director of Client Development, Abacus Group. "Partnering with LiquidityBook gives us the opportunity to provide our customers with a robust solution that not only enhances trading and operational workflow, but also offers robust compliance and stress testing capabilities."