Astin Capital Management Ltd, a new UK-based hedge fund, is to deploy Sophis' real-time fund and risk management solution, Value.
The group plans to launch its first fund in December 2002 - Astin Vega - one of a new breed of hedge funds which aims to make returns regardless of market conditions by treating volatility as a tradable asset.
Charles Bray, CEO, Astin, says: "We chose Value for its straight-through processing capabilities. The flexibility of its front-end, especially the marking of arbitrage positions and volatility curves was also of great interest to our traders."
Sophis says Astin is its first hedge fund client.