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.<\/p>\n
OpenPrime will offer capabilities in four core areas – order and portfolio management, portfolio analytics and reporting, trade entry and routing and portfolio accounting.<\/p>\n
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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.<\/p>\n
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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.<\/p>\n
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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”.<\/p>\n
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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.<\/p>\n