Athena Investment Systems, the leading provider of solutions to Hedge Funds has today introduced a "Aura", a real-time dashboard that provides an inexpensive method of viewing consolidated positions and trade information across multiple prime brokers.
Athena's Aura Real-Time Analytics, Visualization and Business Intelligence dashboard solves the consolidated reporting problem for hedge funds by automatically extracting and aggregating raw positions and trades from multiple prime brokers as well as from other sources including fund administrators, accounting systems, order management systems and market data systems. Aura then calculates real-time Exposures, Risk, P&L and Performance at all levels including trade, position, trade pair, strategy and fund.
After Lehman declared bankruptcy in 2008, many hedge funds that had previously only used a single prime broker added a second or a third prime broker to diversify their vendor risk.
But, according to Scott Sykowski, Principal Analyst at Athena, "unfortunately, this created a new problem for funds. They were getting separate sets of reports from each PB, and someone at each fund was spending an hour or more each day consolidating these reports for Managers, Analysts and Traders. With Aura, we return this time to the firm, while also providing managers better actionable information including Positions, Exposures, Risk Values, P&L, Performance, Income Bucketing and Broker Performance Information.