GlobeOp Financial Services (LSE:GO.) has partnered with Linedata Services (Bloomberg: LIN:FP) to offer an ASP-delivered, front-office order management system (OMS) fully integrated with GlobeOp's middle- and back-office services.
Time to market is reduced for start-up long/short equity managers and commodity trading advisers (CTAs); both new and existing hedge funds can reduce overall technology investment.
"With the surge in capital raising and new opportunities for hedge funds, we see managers demanding a scaled alternative similar to solutions that GlobeOp has already developed for complex products," said Ron Tannenbaum, GlobeOp managing director.
The GlobeOp-hosted service combines advanced technology and functionality in a scalable, robust and secure turnkey package. Key elements include pre-trade and position compliance monitoring, automated maintenance of security master data, multi-prime broker interface, full middle- and back-office support, comprehensive risk analysis and fund administration services.
Front-office trade order and execution management is provided by the most advanced version (7.1) of Linedata Services' Longview ASP platform. The broker- and market-neutral platform is real-time, automated and streamlined, enabling electronic trading that is faster, more efficient, less costly or prone to human error. Designed specifically to support long/short equity and CTA funds, the broad product coverage includes equities, equity options and futures, CFDs, FX spot and FX forward trades. Filled orders are integrated via straight-through processing (STP) with GlobeOp's middle- and back-office systems, which maintain security master data. Clients receive a wide range of independently-verified daily reports - pricing, trade position and settlement, cash reconciliation, P&L, risk analytics and reporting. Full implementation and technical support is offered on a 24/7 basis.
"We are delighted to be working with GlobeOp on this bespoke service for long/short equity managers and CTAs," said David Bilbé, managing director of Linedata Services Northern Europe. "The partnership leverages both Linedata Services' award-winning LongView Trading OMS and our long-term commitment to ASP. This global, automated and integrated solution offers high performance software to support growth while reducing operational risk. ASP delivery enables funds of all sizes to benefit from the competitive advantages that technology innovation brings, such as faster, more secure processing and greater control."