London-based securities trading software vendor Bita Plus has struck a deal with Reuters to incorporate Bita Direct as the main risk analytic within the upcoming release of Reuters Portfolio.
Under the agreement, Bita Direct will be a branded component of the new Reuters portfolio reporting and analysis system. Fund manager users of the system will access Bita Direct for risk reporting, risk attribution and optimisation tools within a familiar Excel environment.
Reuters Portfolio has been developed for institutional asset management firms that need to report and analyse instantly the market characteristics of their own funds and to review the asset allocation, performance and risk of those funds in an integrated environment.
Patrick White, program manager Reuters Portfolio, Reuters comments: "Bita Direct provides a factor risk model and analytic tools that are accepted as standards within the industry and importantly, the technology was portable enough to be deployed within the Reuters platform."
Laurence Wormald, director, Bita Plus says he wants to develop the partnership with Reuters and provide input into other elements of Reuters Portfolio and to work jointly on research and development projects.