Global hedge fund (HF) based in New York with approximately $3billion in assets under management. HF is sector focused trading equities, swaps, options and futures with multiple master funds and overlapping strategies.
OEMS System Conversion
HF was founded in the year 2000 and like many firms at the time, their technology infrastructure was built using several big-name systems in an effort to cover the entire front-to-back workflow. Separate systems included a “wipe and load” OMS, an accounting system and a data warehouse – all of which required their own separate IT server to be installed locally at HF. The three disjointed systems forced the HF to load their OMS positions every morning, reconcile the data, then load their trading information into their accounting system every evening and reconcile the data again.
As HF grew, the task of managing manual processes, multiple vendors, additional IT contractors and a fragmented workflow was time consuming as well as expensive. In 2014 HF approached Enfusion, by way of referral, looking to replace their accounting system. After months of due diligence, HF decided that Integráta was more affordable and flexible than any other system they demoed. After 18 months of using Integráta, HF opened an additional discussion with Enfusion as they wanted to cut more cost and improve inefficiencies by replacing their OMS system. In replacing two vendors with different systems, Enfusion provided:
Integráta streamlined what previously required multiple software applications with separate vendors and manual processes into one consolidated system across OMS, EMS, PMS, Risk, Accounting & Compliance. Consolidating into one vendor with one system significantly reduced HF’s overhead.
Integráta is cloud-based and fully hosted by Enfusion which dramatically reduced HF’s cost in maintaining multiple IT servers and various outsourced IT vendors to manage servers.
Zero Technology Foot Print
Enfusion’s weekly software updates further enhanced HF’s automated functionality without disrupting existing workflows.
The cloud-based solution also facilitated employees working remotely without complicated VPN sessions.
HF’s functional gaps were filled in the areas of pre-trade compliance, specific position sizing, rebalancing functionality as well as complex and unique allocation requirements.