LiquidityBook is set to acquire boutique capital markets fintech provider, Messer Financial Software, in a bid to accelerate its multi-asset capabilities.
As part of the acquisition, Bryan Messer has been appointed general manager of Asia Pacific, managing director of portfolio management solutions and artificial intelligence at LiquidityBook, with his staff also joining. In addition, the accounting and reconciliation engines of Messer Financial Software will be integrated.
Speaking in an announcement, Messer highlighted the similarities between the companies in terms of their respective technology, culture and evolution, adding: “Our functionality is essentially complementary and with both companies following an API-first model, integration was straightforward.”
The product integration partnership between the two businesses was in the works for over a year, with LiquidityBook now offering new features following the addition of Messer, including: financing automation for products such as swaps and credit instruments (such as ABS, CDS and loans); powerful reconciliation tools; dashboards for both buy- and sell-side clients.
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In the same announcement, LiquidityBook confirmed the general availability of LBX PMS 2.0 – its newly enhanced portfolio management (PM) and accounting system, which is set to be further enhanced by the addition of a PM system, accounting and reconciliation service provider, Messer.
In-demand functionality has been added, with robust accounting and reconciliation workflows integrated into both LBX’s buy-side and sell-side products, as well as full ABOR/IBOR, AUM and shadow NAV capabilities added.
As a result, LiquidityBook’s LBX suite has become a full-featured Portfolio, Order and Execution Management System (POEMS) with an embedded FIX network. The business confirmed that clients can continue to utilise only the services they need, as well as integrate a variety of third-party tools.
Jonathan Cross, general manager of EMEA at LiquidityBook, said: “Our clients range from start-up hedge funds and large, established asset managers to broker-dealers, outsourced trading desks and software vendors. With regard to our buy-side clients, and especially newer or smaller funds, time and again we hear their need to shadow their fund admins or manage their own books and records.
“With this newly enhanced and expanded set of capabilities, our clients can own their data at the source, running full shadow NAV, reconciliation and other processes that asset allocators expect of them.”
Kevin Samuel, chief executive of LiquidityBook, said: “LiquidityBook continues to build upon our core value proposition: one code base, every use case. Our modular POEMS and FIX network architecture means our clients’ tech stacks can integrate various vendor and homegrown products, enabling differentiated, customised solutions and workflows.
“The Messer financing engine fit smoothly into LBX’s services-based architecture, enabling a seamless integration. Bringing our firms together was the next logical step in this process.”