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Prime Brokers – Facing the Issue of System Requirements

Prime Brokers face a difficult problem, when looking at software system selection. Ideally they need two software applications to effectively run their business. They need an efficient front office system for their trading desks, and a client-facing application to report activity to and from clients. These are two very different applications.

Anvil Software has developed Denarius – a multi-product system for trading desks. With Denarius, a Prime Broker can:

·Instantly see the combined position of his Prime Brokerage clients in any security or class of securities.
·Combine positions when owned by several Prime Brokerage clients into one trade for executing a single loan or repo to the market.
·Match those positions against his firm's own proprietary positions, so that he can cross-lend without going to the market.
·Calculate the profit and loss on each client entity independently.
·Use the order management module to show those positions anonymously to electronic markets.

Malcolm Clark, Director and Strategist at Anvil says: "In short, Denarius enables a Prime Broker to run an efficient operation with the leverage of powerful position management, easy trade capture and flexible reporting. An asset manager can use the software in much the same way, viewing combined positions across a number of individual funds. Once and efficient front-office processor is in place, the Prime Broker can turn his attentions to the client-facing system. Each Prime Broker will want his own branding and features to go onto a Prime Brokerage client website. That's one way a Prime Brokerage unit will differentiate itself from its competition. Another way is by having a more efficient and effective operation - by using Denarius, for instance! Denarius can certainly supply the data required for the client facing software, and accept inputs or queries from such a front-end. And Anvil technologists could build it, under the branding guidance of the Prime Brokerage unit."

What is certainly true for all financial houses, be they banks, investment banks, prime brokerage units, or investment managers, is the benefit gained from using efficient, effective, trader-friendly front office systems. That is what Denarius, by Anvil Software, is.