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Charles Stanley licence BITA Monitor, as integrated with JHC’s FIGARO platform

BITA Risk and JHC partner to provide ‘measurement-against-mandate’ portfolio analytics to Charles Stanley

BITA Risk Solutions, providers of investment portfolio risk analysis tools, today announced a commercial partner agreement with JHC LLP for the integration of its BITA Monitor product into JHC’s FIGARO platform for stockbrokers and wealth managers. Charles Stanley, one of the UK's leading independently owned, full service stockbroking, corporate finance and institutional advisory groups, has been signed as the first client to take advantage of the combined offering.

BITA Monitor is one of the BITA Risk suite of software products designed specifically for private client investment management, wealth management and private banking firms. BITA Monitor provides ‘measurement-against-mandate’ portfolio analytics for private client investment management firms, stockbrokers and private banks by monitoring client portfolio risk against original investment mandates and identifying any ‘outliers’; client portfolios lying outside their original mandate. BITA Monitor helps firms assess and manage their risk exposure to outliers at a number of levels. Assessment can be made by client, manager, division and region, can provide cross-organisational risk assessment or assess the risk within the portfolio itself.

FIGARO is a world leading solution that provides large-scale stockbrokers and wealth managers with a robust and scalable core system solution designed to provide efficiency throughout an organisation and its operating processes. FIGARO is a fully integrated real time STP solution, and offers a combination of CRM, Portfolio Management, Web, Order Management and Settlement and Custody, all utilising one core database. This fully integrated approach makes it one of the first solutions on the market to be designed in this way, giving a cost effective, powerful, comprehensive yet operationally simple approach for clients.

Many firms have adopted a variety of manual processes which can involve considerable complexity in managing and processing data drawn across an organization. The addition of BITA Monitor’s risk monitoring and analysis to FIGARO will help firms assess and manage their clients’ portfolio risk and deliver an automated and efficient analytical process.

Charles Stanley has signed as the first JHC client to take advantage of the integrated BITA Monitor risk and analytics functionality. Commenting on the decision to adopt BITA Monitor, Andrew Butcher, COO said, “We are impressed with BITA Monitor and the BITA /JHC partnership. By combining forces they enable brokers and wealth managers to use a single software approach not only for front and back office functionality and process automation, but also to provide risk and analytical tools.”

Daryl Roxburgh, Global Head of BITA Risk added, “We are delighted to be partnering with JHC, widely recognised to be the one of the leading providers of private client software solutions. In a climate of increased regulatory scrutiny, the information provided by the BITA Monitor module is designed to be easily accessible and fully transparent, helping firms not only measure and manage their client portfolios but also meet their ‘Treating Customers Fairly’ (TCF) regulatory requirements. We believe that Charles Stanley’s adoption of BITA Monitor is a reflection of the challenges facing many large firms and we are delighted that we can provide a solution with JHC.”

JHC’s Managing Partner, John Blackman added, “We are constantly seeking ways in which to enhance our integrated product offering for clients. In developing their BITA Monitor product, BITA Risk has clearly understood the needs of brokers and wealth managers. Their modular approach makes adaptation and adoption easy to achieve. We are confident that the combination of BITA Monitor and our highly effective software, FIGARO, will be of considerable assistance to clients in a climate of increased regulatory scrutiny and performance pressure. This forms a key addition to the functionality of the FIGARO Wealth offering which was launched in 2009”.