Sibos 2005 Copenhagen, 5th September, 2005 - Financial Tradeware, provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for investment managers, fund managers and hedge funds, today announced European Investments Management Ltd (EIM), a hedge fund based in Nassau, Bahamas has implemented their H-FUND(r) solution and connects to SWIFT via the Member Administered Closed User Group (MA-CUG).
H-FUND(r) is a fully integrated front, middle and back office trading platform, supporting a wide range of instruments including multi-currency, cross border trading for equities, fixed income and derivatives. The flexibility and component based architecture allows additional instruments to be easily included. The solution automates the pre- and post-trading activities of hedge funds using FIX protocols for real-time trading, calculation of NAV, back office administration with SWIFT connectivity for clearing and settlement, portfolio modelling and direct links to the major data providers, including Bloomberg.
The Financial Tradeware MA-CUG enables EIM to exchange multiple standardised financial messages (e.g. FIN, FIX, and XML) with their Financial ounterparties via the SWIFTNet secure IP network. With the SWIFTNet infrastructure and its complementary messaging services, FileAct, InterAct, Browse and FIN, EIM is able to use a single, secure communications channel to send and receive messages - automatically or manually - to and from the MA-CUG Service Administrator who has direct access to their various correspondents using the SWIFTNet network.
Comments Ms Stefania Bernardini, Head of Operations of European Investments Management "It is essential for our hedge fund to have a reliable IT platform to support the day to day operations. The Financial Tradeware system comprises a number of front to back office fully integrated components key to our business operations. The value-add is also their recently released MA-CUG which gives us a cost effective access to the SWIFTNet network for secure and guaranteed communication with our counterparties."
Mr Alberto Fontana, Managing Director of Financial Tradeware comments: "We are very familiar with the challenges faced by hedge funds the size of EIM, and focus on providing them with very cost effective solutions which offer very high level of flexibility and scalability to achieve operational efficiency, crucial for their business. What we strongly believe is the use of SWIFT, FIX, XML and related standards to improve the communications between hedge funds and their financial counterparties like Fund Administrators, Prime Brokers, Custodian, reducing operative risks and improving efficiency, all at an accessible price via the Financial Tradeware's newly launched Closed User Group, which allows indirect connectivity to SWIFT.
Mr. Edward Glyn, Commercial Manager - Investment Funds, SWIFT comments: "This is an excellent opportunity - a new and innovative solution, truly pioneering the way for Hedge Funds and Funds of Funds to leverage the advantages that the SWIFT community brings. This kind of easy to access and cost-effective solution will really benefit the alternative investment marketplace bringing both automation and standardisation to the business whilst driving distribution, increasing efficiency and delivering value to the end-customer".