Parametric Portfolio Associates, a US-based investment advisor and structured portfolio management provider, has installed buy-side trading technology firm Fidessa LatentZero’s Minerva order and execution management system (OEMS) to manage its equity accounts.
Parametric offers a variety of structured portfolio solutions, including customised core equity portfolios, emerging markets, and overlay portfolio management. The firm will use Minerva to manage 16,000 accounts worth around $30 billion in assets, primarily comprising global equities.
According to Parametric, the large trade volumes from its workflows required it to replace its existing proprietary trading system with a high-performance OEMS. “In addition, we were impressed by the depth of functionality, and the flexibility and configurability of the system to accommodate our unique workflow requirements,” said Andy Abramsky, chief operating officer, Parametric, in a statement.
The Fidessa LatentZero product will be closely integrated with Parametric’s proprietary research systems.
Minerva OEMS is a fully-integrated front-office position analysis and trading system that encompasses support for multiple asset classes, integrated market data, order management and trading, compliance and real-time positions in one application.