Release Focused on Regulation, Scalability and Risk Management
Eagle Investment Systems LLC, a leading provider of financial services technology and subsidiary of BNY Mellon, today announced that Eagle Version 11.0 (V11.0), a technical and functional upgrade of its integrated suite of data management, investment accounting, and performance measurement and attribution solutions, will be available in early July.
Committed to product innovation, Eagle releases a major version of its software each year to stay ahead of a rapidly changing industry and keep pace with technology advances. V11.0 includes new platform certification for Oracle 11g R2 and Microsoft SQL Server 2008 R2 as well as improved virtualization and Linux support. Enhancements have been made to support Eagle ACCESSSM, its secure private cloud, which hosts the Eagle Suite, and the architecture was updated to significantly improve throughput within an optimized, cost-effective technical footprint.
V11.0 offers clients timely updates around a number of industry issues. Throughout the suite, reporting has been enhanced to comply with regulatory changes such as cost basis reporting for brokers, US GAAP, insurance statutory reporting, IFRS, derivatives reporting disclosures, and other global mandates. The new release also addresses the market’s need for tighter risk management through enhanced exposure reporting features and the automation of processing complex instruments. To address its expanding client base, Eagle has also added multilingual reporting and is providing a localized user experience within the Eagle Portal.
“Our close observation of the global financial landscape, and other market influences such as derivatives, has driven most of the functionality updates and regulatory support offered in V11.0,” said John Lehner, chief executive officer and president of Eagle. “We have also made numerous technical enhancements including improvements to user experience, ease of use, scalability and overall performance. This is a major release offering our clients many important updates to help keep their costs down and improve overall operational efficiencies.”
Functional enhancements in V11.0 were made based on client and market demand as well as mandates from industry regulators. These factors, coupled with competitive drivers and Eagle’s support of various delivery channels, help determine the investment in each release. Highlighted below are key updates that will be available in the solutions that comprise the Eagle Suite:
• Data Management introduces Eagle Analytics in V11.0, which offers built in functionality to calculate analytics and prices for fixed income and derivatives instruments using the FINCAD® Analytics Suite. The latest release offers numerous enhancements to the reference data management solution. Pricing Center offers more efficiencies to minimize the impact to NAV and market value calculations when pricing changes in the narrow end-of-day period. New vendor scorecard reports were added to Security Reference Manager to enhance the tracking of data sources being utilized. Overall, improvements to workflow and user flexibility were made to provide clients with an enhanced user experience and ease of use.
• Information Delivery, a data management solution component which provides the ability to calculate and report financial data, offers new functionality around the storage, generation and delivery of information in multiple languages. The improved Portal provides users a localized experience and has been completely redesigned to enable a more intuitive user experience and faster navigation. The new version also provides significant updates around the functionality and reporting of exposure analysis.
• Investment Accounting contains many changes to address industry regulation, updated functionality to meet market demand and improved operational efficiencies. Enhancements in V11.0 include expanded integration for derivatives instruments such as credit default index swaps, updates to comply with cost basis legislation changes taking effect in 2012, expanded support for compliance with US GAAP, IFRS, and fair value measurements. The new release also supports insurance requirements for loan-backed and structured securities, disclosure reports for derivatives instruments and enhancements to support impairment processing. Numerous updates were also made to mutual fund accounting calculation and reporting requirements.
• The Performance Measurement suite provides significant enhancements to support ease of deployment and offers expanded portfolio analysis to clients. To help clients rapidly realize the value of their investment in Eagle, V2.0 of the Performance Toolkit extends Eagle’s use of generic data interfaces and provides industry standard performance calculations, standard audit checks, solution defined workflows, and standard performance reports. V11.0 also provides additional performance attribution analyses, expanded GIPS® disclosure management support and client workflow improvements. A system baseline was conducted and optimization improvements were completed which produced a 4x processing improvement. This demonstrates Eagle’s ability to scale to support performance calculations and reporting for a high volume of accounts.