GlobeOp introduces hedge fund risk service

Source: Application Networks

In a significant move to increase accountability, meet market demand and fortify the control structure for hedge funds, GlobeOp Financial Services' (GFS or GlobeOp) risk subsidiary will release GoRisk, an ASP-based service providing real-time trading and risk management solutions designed to satisfy the demanding needs of both traders and risk managers alike.

This innovative new service brings together GlobeOp's expertise as a provider of fund administration and related support services for hedge funds, funds of hedge funds, and high net worth family wealth offices, with Application Networks' state-of-the-art JRisk product suite of trading and risk management applications to create a robust trading, risk and control infrastructure formerly unavailable to the buy-side community.

"GlobeOp has an established history of providing ASP risk management systems for hedge funds, and the launch of GoRisk significantly builds on this expertise to provide a powerful infrastructure to manage risk and increase fund accountability," said Vernon Barback, GFS president and chief operating officer. "This platform integrates and addresses the specific needs of the buy-side community, providing an advanced real-time view of risk across all asset classes as an easy to deploy ASP."

Commenting on the venture, Evrard Van Hertsen, chief executive officer of Application Networks, said: "JRisk has earned a loyal following with major investment banks worldwide, and there is increasing interest and demand from hedge funds for this powerful tool. Through GoRisk, GlobeOp is providing the buy-side community with the same technology and functionality but in an ASP format that ensures rapid deployment and a lower cost of entry, translating to exceptional ROI."

GoRisk will provide a single real-time solution that supports the needs of risk managers for sensitivity and scenario analysis, stress testing, Value-at-Risk (VAR) and limit monitoring, as well as the needs of traders with pre-trade analytics, sensitivity and "what-if" analyses. As a turnkey, Web-based and highly user customizable solution, GoRisk will support a wide variety of asset classes including fixed income, credit and equity derivatives, mortgages, foreign exchange and hybrids. Delivered as a fully packaged ASP (Application Service Provider), GoRisk will include access to all the necessary reference and market data from various third-party vendors as well as advanced pricing models and analytics.

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