MARKET INFRASTRUCTURE

Quantopian chooses SS&C for fund admin services

SS&C will act as fund administrator for investment firm Quantopian as well as providing services aimed to increase operational inefficiencies.

By Paul Walsh paul.walsh@strategic-i.com March 28, 2017 3:35 PM GMT
Quantopian has appointed SS&C as its fund administrator and partner as the investment firm looks to increase operational efficiencies.

As part of the agreement, Quantopian will utilise SS&C Geneva for portfolio management and reporting.

In addition, Quantopian is also aiming to utilise operational services including day-to-day tasks such as validating daily trade uploads, setting up new accounts, monitoring market data feeds and providing daily reconciliation.

Founded in Boston in 2011, Quantopian aims to create a crowd-sourced hedge fund by allowing analysts to develop and test trading algorithms.

“Partnering with SS&C is a strategic step that meets our needs for an institutional grade platform with operational and reporting flexibility that fits our unique business model,” said Dragan Skoko, head of trading at Quantopian.

“We needed a software provider with a diverse global client base, expertise in quantitative investing, and the ability to administer a complex integration.”

Following its acquisition of Citi’s alternative investor services business and Wells Fargo’s GFS business at the end of 2016, SS&C now holds more than $1 trillion in assets under administration.