FNX launches hosted hedge fund service

FNX launches hosted hedge fund service

Philadelphia-based trading technology vendor FNX Limited has launched Aspen Hedge, a managed ASP system for buy-side firms.

The Web-based platform is designed to support all hedge fund products - including foreign exchange and equities to exotic options, fixed income and derivatives - and provides deal capture, P&L, best of breed analytics, risk management tools and interfacing capabilities.

The Aspen Hedge service also features a data management function and provides market rates and independent valuation of financial portfolios.

FNX is setting up a new operating division to manage the service and has contracted with a hosting provider for network security. Access to the system is controlled with firewalls and digital certificates using 128-bit encryption. Within the application, authorisation is managed with a policy server using a layered security model.

Farid Naib, FNX's CEO, says: "Our data servicing, our secure infrastructure, and our risk and portfolio management tools will prove to be a very valuable asset in the operations of our clients."

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