A Technology Roundup
SUNNYVALE, Calif. (HedgeWorld.com) – A new service offered by Iverson Financial Systems is promising to give complete statistical data on short interest on the New York Stock Exchange, American Stock Exchange, and the Nasdaq.
Including 15 years of historical short position data, the Short Interest Monitor also provides monthly updates. Iverson is targeting firms that are involved in building investment analysis applications, charting trends or doing securities research.
Data analysts gather exchange information from all available sources and then set out to standardize the market information on the platform. The system includes the reporting date for short positions, the CUSIP number, exchange code, average daily volume and other data sets. Iverson specializes in providing data feeds and has similar offerings with respect to stock indexes, sector stocks and exchange-traded funds.
Recent FundRunner Release Includes New Reporting Components
SAN FRANCISCO (HedgeWorld.com) – FundRunner 3, the most recent version of Financial Interactive’s investor relationship management software package, includes new fund reporting tools.
The new tools embrace what has become the buzzword in the financial software industry – automation. RACE (Report Automation and Circulation Engine) and ReportMill both offer users with customized reports for investors. RACE automates the delivery of email and the production of hard copy documents. ReportMill is involved in the collation and helps divide a single report file into multiple discrete files that contain only the data intended for a specific recipient.
There also is a feature Financial Interactive calls roles-based security, which essentially lets systems administrators define the access rights to investor data, archived communications and critical contact information to protect from unauthorized access. A new search feature also allows managers to do simple and multi- dimensional search requests.
Gottex Brokers First Member of Swapstream
LONDON (HedgeWorld.com) – The first client for the Swapstream trading platform for swap and over-the-counter derivatives is Gottex Brokers, according to a Swapstream announcement.
Gottex Brokers is a European OTC derivatives brokerage that was started in 1986 by a small group of European market specialists. Swapstream is an independent trading platform for OTC derivatives community and is planning to launch U.S. dollar swaps, short swaps and futures hedging later on this year.
Using the current system, Gottex Brokers can confirm brokered swap transactions in euros and Swiss francs between the SwapsWire participant banks by using the link-up between the Swapstream e- trading system and the SwapsWire electronic processing system. According to Swapstream, this lets Gottex serve its customers better and allows participating SwapsWire banks to benefit from electronic straight-through processing.
SunGard Still On the Acquisition Trail
BIRMINGHAM, Ala. (HedgeWorld.com) – SunGard Wealth Management Services entered into a definitive agreement to buy London Pacific Advisors Services Inc. and London Pacific Securities Inc., which offer a web-based turnkey asset management program for the wealth management industry.
The LPA program lets advisers build managed-account investment strategies tailored to each investor. These individual strategies can become separately managed accounts, which give direct individual ownership of the security positions. Subject to shareholder approval, the transaction is expected to close in June.
Last year, the software company announced acquisitions of Monisand Organizer Systemsto complement its existing systems used by hedge fund managers.
Beauchamp Names Former CDC Investment Chief to Advisory Board
NEW YORK (HedgeWorld.com) – D. Sikes Wilford was appointed chairman of the advisory board at Beauchamp Financial Technology. Mr. Wilford had been the chief investment officer of CDC Investments, a New York-based alternative asset management firm and is also a board member of other hedge funds.
“Working with BFT is an exciting opportunity to help make some of the more theoretical aspects of how a hedge fund should be managed become reality,” Mr. Wilford said in a statement. “Technology is not only the key to successful fund management, but it is also the engine that can create the information needed to institutionalize the hedge fund industry.”
