SunGard announced today that it has enhanced Martini, a leading real-time global trading platform for bond and equity securities financing, with functionality that helps prime brokers offer white labeled reconciliation, interfacing and reporting services to their hedge fund clients.
The enhancements include three new capabilities designed to help prime brokers tackle cost and risk issues: online reconciliation, data integration and enhanced reporting.
Brian Traquair, president of SunGard's securities finance business, said, "We understand the increasing range of value-added services prime brokers need to provide in order to maintain crucial hedge fund relationships. Hedge funds need easier reporting and interfacing as they cope with market growth and institutionalization. Reducing securities financing breaks is critical to cost control. We are seeing significant interest from prime brokers looking to offer these capabilities to their clients."
Martini's new reconciler provides immediate, online reconciliation to help reduce trade fails and manual processes. Designed as an interactive break report browser, it allows prime brokers to make corrections and record changes, and send notifications as they occur. For hedge funds, it allows operational personnel to receive and view files in real-time and reconcile with multiple prime brokers.
To help reduce hedge funds' time, cost and risk of interfacing with different systems, Martini's new integration application loads trade and static data into a single repository. The application helps to limit operational errors by automating file assimilation and the production of reconciliation reports, as well as providing live updates of the Martini database and client data entry screens.
Martini's reporting tools for hedge funds have been enhanced to include pre-defined Martini business reports that can be scheduled, run on-demand, or published to an intranet. The supplied reports were designed to be modified without IT or development assistance.