SunGard today announced that Third Point Partners (Third Point), a $4bn hedge fund trading long/short equity, has selected FRONT ARENA, a real-time, integrated cross-asset trading platform. Third Point, based in New York, will deploy FRONT ARENA to manage trading, P&L, risk management and operations.
Third Point will use FRONT ARENA to help centralize risk and operational control and manage its trading activity. FRONT ARENA will help Third Point to increase operating efficiency. The multi-strategy solution connects industry participants including prime brokers, fund administrators and third party systems. FRONT ARENA also contains extension tools for adding proprietary models, modifying analytics and enhancing the application.
Jim Kelly, president of Third Point, said, " We chose FRONT ARENA to facilitate our global expansion and as a platform to help us achieve greater analytic functionality and operating efficiency. FRONT ARENA will facilitate firm-wide aggregation of our exposures, giving senior management better and more timely control of portfolio risk. The folks at SunGard were terrific and lived up to their track record of on-time, on-budget implementations for FRONT ARENA.”
Rob Mackay, managing director, Americas, SunGard’s FRONT ARENA business unit, said, "Institutionalization, greater competition and increased scrutiny are driving the needs of hedge funds for technology that can help them improve operational efficiency, increase transparency and grow their business securely. FRONT ARENA provides the automation, auditability and scalability to help hedge funds achieve these goals."