Omnify, the incubator for middle and front office software firms and provider of niche software and services to asset managers, today announces a real-time surveillance and alerts module for 'Athena Aura' - the analytics, visualisation and business intelligence dashboard for hedge funds.
The Aura dashboard offers a low-cost and low-risk way of making the operational changes necessary to move to a multi-prime environment. Following the collapse of Lehman's in 2008 and recent market turmoil, many hedge funds that had previously only used a single prime broker are now utilising the services of multiple prime brokers to diversify their counterparty risk and help reduce their dependence on external service providers.
This new module allows firms to create custom alerts based on consolidated holdings and trade information, risk measures or even fund performance. When these alerts are triggered, Aura will notify designated managers via on-screen messages, E-mail, IM or the web. It enables risk managers, COOs and CIOs to monitor exposures, risk and P&L in real-time, even when they are away from their desks.
Andy King, Business Development Director at Omnify. "Hedge funds need three things to achieve real-time surveillance. First, they need a tool to consolidate all of their current position and trade information across all of their primes and execution systems. Second, they need a high-performance analytics framework to calculate their real-time exposures, P&L and stress tests and to evaluate both standard and custom alert rules. Finally, they need the ability to notify managers of rule breaches immediately, so that problems can be corrected before they impact the performance of the firm.
Many firms struggle with putting these pieces together themselves. With this new module, 'Aura' delivers all three."