Parametric Portfolio Associates, an SEC registered investment advisor headquartered in Seattle, Washington and an industry-leading provider of structured portfolio management, has selected the Minerva Order and Execution Management System (OEMS) from Fidessa LatentZero to manage $30 billion in assets across more than 16,000 separately-managed accounts trading primarily in global equity securities.
Parametric offers a variety of structured portfolio solutions, including customized core equity portfolios (U.S., non-U.S. global Tax-Managed CoreTM), emerging markets (Structured Emerging MarketsTM), and overlay portfolio management (OverlayOneTM).
Parametric prides itself on its technology, and licensed Minerva OEMS to continue their focus on combining the best technology and research to their investment process. Parametric's style of trading and unique workflows yield high trade volumes, thereby increasing the demands being placed upon the OEMS environment at the firm. Minerva OEMS will be replacing Parametric's current proprietary trading system and will be closely integrated with their proprietary research systems.
Andy Abramsky, Chief Operating Officer at Parametric said: "Having assessed the various products available, a number of reasons led us to choose Fidessa LatentZero. Obviously the Fidessa group has a strong reputation, but most important was Minerva's proven ability to accommodate the large order volumes that we handle. In addition, we were impressed by the depth of functionality, and the flexibility and configurability of the system to accommodate our unique workflow requirements. We were also impressed by the knowledge and capabilities of the Fidessa LatentZero team, which is so important in a project of this scale."
Cindy Arcari, North American Sales Director for Fidessa LatentZero said, "It is a great endorsement of Minerva OEMS to be chosen by Parametric. We have always worked hard to ensure that all our technology platforms are both scalable and easy to integrate and those factors proved particularly important in this case. We look forward to a successful go-live in the coming months and to developing a strong and mutually beneficial partnership with Parametric."
Minerva OEMS is a fully integrated front-office position analysis and trading solution that provides support for all asset classes, including OTC deririvatives, with real-time positions and P&L, integrated market data, order management and trading, with integrated compliance in one easy-to-use application.