Citigroup has launched OpenPrime, a trading and portfolio management system developed specially for the hedge fund market that is based on technology from France-based Linedata Services.
OpenPrime will offer capabilities in four core areas – order and portfolio management, portfolio analytics and reporting, trade entry and routing and portfolio accounting.
Developed jointly by Citi’s global transaction services and prime brokerage businesses, the prime brokerage platform is powered by Linedata’s hosted Beauchamp technology and Citi’s middle office and fund administration services.
Citi says the system “facilitates multi-strategy, multi-asset class and multi-currency investing and allows funds to go multi-prime in a secure, neutrally-hosted environment”. The new platform will equip funds to utilise a “one-stop” platform to manage complex portfolios and help satisfy investor and regulatory requirements.
Ali Hackett, MD and co-head of global equity finance at Citi, says the platform will “facilitate the transition to multiple prime brokers in a timely, cost effective manner”.
The Beauchamp suite provides full front-to-back functionality, including electronic trading, real-time positions/P&L and fund accounting and the system interfaces with multiple executing and prime brokers. The pacakage includes a real-time portfolio management application that allows aggregation and examination of portfolios.
