RBC's Alternative Assets Group deploys IPBS Trade Desk

Source: International Private Banking Systems

International Private Banking Systems (IPBS), the specialist provider of wealth management software for the private banking sector, today announced RBC Capital Markets' Alternative Assets Group in New York has gone live with its new IPBS/Trade Desk module, IPBS Trade Desk.

IPBS/Trade Desk is built on the Microsoft .NET platform.

The Alternative Assets Group, a business unit of RBC Capital Markets, installed the IPBS/Funds module in 2003 for its Fund of Funds – Hedge Funds business.

This new IPBS module offers significant savings and efficiencies in getting client orders processed. IPBS/Trade Desk automates the processing of client subscription or redemption orders that may now be electronically imported and processed in a matter of seconds. Throughout this automated process, which culminates in completion of the investment with the respective Fund Manager, the opportunity exists to identify items that don’t conform to a particular fund’s investment rules.

The Fund of Funds business is markedly different from traditional investment trading in that it is more often than not like IPO investing where a sum of money is subscribed in advance of an allocation date when units of shares are allocated from a subscription. Typically, investment decisions will be made very close to the allocation event creating an enormous work load peak for the investment manager just before the allocation date. It's a bit like pushing water through a funnel. As the volume of water increases you either have to increase the size of the funnel tip or push the water harder to get more water through in the same time frame. What IBPS has done with the Trade Desk is to open the funnel tip.

IPBS/Trade Desk has a number of important benefits that are designed to support the complex financial transactions involved in managing alternative asset investments for high and ultra-high net worth client portfolios. Some of the features of the solution include:

  • Quantity (share) based investments as well as value based investments.
  • Segregation of collateralised and non collaterlised portfolio investments.
  • Intra-day and final valuations.
  • High quality client reporting.
  • Automated bulk processing of accepted investment orders.

Bruce Raine, Founder and Managing Director of IPBS adds, "We are very pleased that the IPBS/Trade Desk solution at RBC Capital Markets has delivered immediate improvements in efficiency. More importantly, we know that the system has the flexibility to grow with their business, and in that sense delivers extra value for money in our view. As the Alternative Assets Group is involved in hedge fund investments, it is worth mentioning that the flexibility of the IPBS/Trade Desk makes it an equally good fit for bond or equities traders, and as it's based on .NET technology, it's also very affordable."

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