OMS provider Linedata Services says it has integrated TradingScreen’s TradeSmart with Beauchamp Fund Manager, the hedge fund portfolio management system it acquired.
Linedata says the integration of the two systems offers a new level of trading efficiency to hedge fund managers. It claims it also builds on the multi-asset class capabilities of both products.
“Without the need to re-key executions, clients will reduce time and human error, which together translate in to significant operational cost savings,” says Linedata in a statement.
Beauchamp Fund Manager offers trade capture, P&L and portfolio analysis, fund accounting, custom report design, and automated reconciliations with counterparties. It is used by 280 hedge fund management companies around the world, each managing anywhere from $10 million to $12 billion of hedge fund assets.
TradingScreen is a provider of multi-broker, multi-asset class electronic trading applications. Users of TradingScreen’s TradeSmart can trade a broad portfolio of financial instruments – around the clock and on any market – with a wide range of counterparties.
Linedata say the integration with TradeSmart will enable Beauchamp clients to use FundManager and TradeSmart together for direct FIX and multi-broker staging of equity orders and FIX drop-copies for equities, futures and options. In addition, the combination offers them access to market information such as IOIs (indications of interest for securities in the registration process) and pre-trade analytics. Execution capability available via TradeSmart now includes direct market access (DMA), strategy building, trade management and best execution reporting.
Beauchamp clients will be able to enter trade orders into either Beauchamp FundManager or TradeSmart. Execution reports displayed in TradeSmart are then automatically exported via FIX into FundManager, where the data is available for real-time analysis, reporting and automated position reconciliation. The result is faster, cheaper trading and more accurate position and P&L data at all times.
“This integration gives the hedge fund community the ability to meet new regulatory and market challenges,” says Philippe Buhannic, chairman and chief executive officer of TradingScreen. “Linedata’s Beauchamp and TradingScreen are leaders in their fields and it was both logical and efficient to take a best-of-breed approach. The greater complexity of the markets and the need to capture liquidity efficiently – all while achieving best execution and controlling trading costs – has made the task of hedge fund traders increasingly difficult. The leading hedge funds that have consolidated their organization around a high-quality portfolio management system like Beauchamp are now looking to improve their trading processes by integrating pre-trade analysis, strategy management, access to algorithms, multi-asset class capability and global connectivity into a single system.”
“Hedge fund requirements have evolved, arising from changes in market structure and the regulatory environment,” adds Clare Flynn Levy, president of Beauchamp. “This, and the explosion of interest in electronic trading, has created a good case for us to collaborate with TradingScreen to provide an integrated solution that can be quickly delivered to address these new challenges. As ever, Beauchamp strives to offer its clients freedom of choice on the front end and seamless access to the tools that will help them maximize their returns on capital.”