Forming a core system in both entities, SimCorp Dimension will be used for the middle and back office management of listed derivatives and OTC at Exane Derivatives, and in the front and middle office operations at Ellipsis Asset Management. Ellipsis Asset Management is the latest to join over 140 clients worldwide using SimCorp’s front office solutions, from asset managers to pension funds, insurance and banking, as the trend for operational consolidation continues.

Based in Paris, Exane Group is an independent investment firm with three successful lines of business (cash equities, derivatives and asset management), spread over a diversified European and global client base. Primed for growth, the firm chose SimCorp Dimension to integrate core investment workflows, in order to scale the business and replace its fragmented and costly IT architecture. The implementation, delivered on time and on budget, is now live in both Exane Derivatives and one of the group’s asset management entities, Ellipsis AM, where SimCorp Dimension plays an essential role in front and middle operations, replacing best of breed front office solutions.

With an esteemed track record in active management, specializing in convertible bonds, credit funds and equity overlay, and standing at EUR 2.3 billion AUM, Ellipsis AM is a notable yet nimble player in European bond fund management. The go live has helped the business to increase its agility, with SimCorp Dimension replacing duplicitous systems, streamlining the firm’s architecture and its communication with custodians and fund administrators.

The firm utilizes SimCorp Dimension modules in the front and middle office, from Order Manager (OMS), Asset Manager (portfolio management) and Compliance Manager, to Corporate Actions Manager and Fund Administration Manager. Additionally, with SimCorp’s agnostic Market Data Manager, Ellipsis AM is now connected to its preferred trading platforms, which include TSOX, EMSX and FXall.

A benchmark player in the European derivatives market, and recently voted number one for convertibles in Europe*, Exane Derivatives ensures liquidity through market making of futures, options and convertibles, and now uses SimCorp Dimension in their middle office activities, feeding the back office for listed and OTC derivatives.

Since the implementation of SimCorp Dimension, Exane Derivatives has already established several improvements to the business. The introduction of real-time interfaces for the import of transaction data now provides further accuracy, while access to a wider range of market data, has increased flexibility and responsiveness in its pricing policy. Furthermore, SimCorp Dimension’s intuitive dashboards now provide middle office teams with automated data and workflows, reducing burdensome manual tasks.

Benoit Catherine, Deputy CEO and Board Member at Exane Group, commented: “The implementation of SimCorp Dimension for the derivatives business has enabled us to significantly streamline our operations, reduce costs and increase our operational efficiency. With a critical understanding of our business needs and close collaboration throughout the process, SimCorp has delivered this project within both the timeframe and budget we set out with. For us, that assurance has been invaluable.”

Emmanuelle Bourboulon, Management Board Member and COO at Ellipsis AM, added: “SimCorp Dimension will enable us to scale for growth by automating our business processes and reducing operational risk. Most importantly, the portfolio managers, middle officers and risk managers are now able to rely on one single real-time position keeping to make their investment decisions, to calculate net asset values and to process pre and post-trade risk controls.”

Emmanuel Colson, Managing Director at SimCorp Southern Europe, commented: “We are immensely pleased to have Exane Group using SimCorp Dimension across the two distinctively different business lines; Exane Derivatives and Ellipsis Asset Management. The success of these implementations demonstrates our ability to provide a broad coverage of front to back investment processes in one solution, but also the level of functionality needed to stay competitive and agile, while enabling operational efficiency and cost reduction. This unique approach not only supports scalability of firms such as Exane Group, but also allows them to focus on their core business.”