LatentZero announced today that Legg Mason Capital Management (LMCM), a subsidiary of Legg Mason, Inc., has selected LatentZero's complete software suite, Capstone, to run the front-office.
By choosing Capstone, LMCM, with more than $51 billion AUM at June 30, 2005, will be able to take advantage of: Sentinel, LatentZero's pre-and post-trade investment compliance solution; Minerva, its order management and trading system; and Tesseract, LatentZero's portfolio analysis, scenario modeling and order generation product.
LMCM's decision followed a rigorous review process. "We looked at a number of leading vendors, initially searching for pre- and post-trade compliance software that would integrate easily with our existing systems," said Drew Bowden, LMCM's Chief Operating Officer. "After visiting a number of LatentZero's sites and speaking with several existing users, we concluded not only that LatentZero's compliance tool, Sentinel, was just what we needed in terms of functionality and performance, but also that we would get the best result using LatentZero's complete buy-side offering. In addition to the technology, we felt extremely comfortable with LatentZero's whole approach. The team was candid, responsive, and highly professional – the kind of people with whom we like to do business."
Dan Watkins, CEO of LatentZero North America welcomed the LMCM win, commenting, "LatentZero's Capstone suite is built on open, flexible, future proof technology. All the modules are reliable, scalable, easy to implement and integrate well with legacy systems, which makes Capstone highly attractive for asset managers of all sizes. Furthermore, LatentZero's technology is coupled with a team of people who are continually building on their reputation for excellence."