Baring Asset Management has extended its use of Minerva, LatentZero’s order management and trading system to its Hong Kong, Boston and Tokyo offices. Baring Asset Management now runs Minerva across all the time zones in which its offices are located, taking full advantage of the product’s real-time global order management capability.
Baring Asset Management uses Minerva to run a single global order book that is passed between the two dealing desks in London and Hong Kong. Minerva is also available for enquiry in Tokyo, where local equity investment management is carried out; and Boston, where local equity and bond investment management and order generation are conducted. This allows traders to respond quickly and efficiently to fund managers’ trading requirements round the clock.
Owing to its ability to transmit orders electronically to Baring’s principle counterparties over the Financial Information Exchange (FIX) Protocol, Minerva plays a key part in Baring Asset Management’s Straight Thorough Processing (STP) strategy, ensuring that orders once generated can continue to pass efficiently, and without manual intervention, through to execution in the market.
The product operates from a single server at Baring’s headquarters in London, which minimises support and management costs.
“Minerva has enabled us to develop a highly sophisticated and efficient global order management operation,” said Paul Savage, Director and Head of Marketing Activity for Baring Asset Management. “The availability of FIX connectivity has allowed us to remove further manual steps in the investment process at the order placement and execution stage. In addition we have better visibility of the real time status of orders. A single global system naturally improves global communications between our offices and we are now better able to process orders quickly and efficiently, aiding trade implementation performance. The end result is that we have set new standards of service for Baring Asset Management’s clients.”
Baring Asset Management also uses Sentinel, LatentZero’s pre- and post-trade global compliance checking system. Sentinel is used by many of the world’s leading asset management firms.