Trading platform provider Imagine Software says that Stoneworks Asset Management, a London-based global macro fund, has bought the firm’s ASP service, derivatives.com, to support its trading and risk management activity as it enters its first months of trading.
Stoneworks will use Imagine’s real-time portfolio and risk management capabilities to support the trading activity of its global macro fund across a range of instruments in up to 40 different markets.
Imagine says the features include real-time greeks, stress testing and historical Monte Carlo, as well as multi-factor portfolio VaR (Value at Risk) tools.
These tools will enable Stoneworks to monitor exposures to the full range of market risks such as changes to market prices, interest rates, volatility and yield-curve assumptions. This, alongside recently upgarded reporting capabilities, will provide Stoneworks with the operational transparency required by regulators and investors, plus real-time intra-day risk management to the fund’s traders.
“We selected Imagine after extensive research into the systems available to support our requirements,” says Gary Link, CEO of Stoneworks Asset Management. “Overall, we were very impressed with the flexibility of the derivatives.com platform. In particular, the integrated VaR capability is highly valuable to our business, allowing the type of intra-day risk analysis that is critical to our trading decisions. Of the systems that we considered, Imagine’s was the only one that offers comprehensive portfolio and risk management on a real-time basis, and with the robustness that we were previously accustomed to on the sell-side.”
Steven Harrison, President of Imagine, says he is flattered such an experienced group of fund managers chose his technology. added: ” We’re gratified to know that Imagine’s cross-asset and multi-strategy capabilities will provide Stoneworks with the infrastructure necessary for proper execution of their sophisticated global macro investment strategy,” he says. “And as the fund grows, Imagine’s scalability will help Stoneworks remain agile, quickly adapting to changing requirements of the fund and its investors.”