Point Nine has launched a live second generation of Circle - its proprietary cloud-based middle and back office servicing technology for hedge funds.
Live access to trade reconciliation and settlements via the web is a market first, enabling fund managers to view key information such as Shadow NaV, P&L, counterparty exposures and key settlement reports in realtime for the first time. Circle.2 retains many features of the original Circle platform, and provides complete trade life-cycle processing, operations management and reporting via a cloud-based system, requiring no local hardware installation or updates.
Pavlos Christoforou, Partner of Point Nine in charge of Technology, said: "Circle.2 is a unique and ground breaking product for hedge funds, providing live oversight of trade matching, data dissemination to fund administrators and custodians, settlements, corporate actions, daily reconciliation of open positions with counterparties and trade reporting. Delivered via the cloud, our proprietary platform is robust, scalable, flexible and upgraded without the need for local hardware installation or updates."
Circle.2 integrates with all third party order management systems (OMS) to enable seamless automated straight-through processing of most daily tasks. Trades are processed, tracked and reported via encrypted channels, which clients access through a secure internet browser to view, manage and fully analyse their portfolios.
Point Nine facilitates trade capture, reconciliation and settlement support across a comprehensive range of asset classes including equities, bonds, FX, commodities, rates, loans and alternatives - both vanilla, exotic, exchange traded and OTC. The company's full spectrum of middle and back office services are continuously developed with new features and enhancements in response to client requirements and changing market demands.