GlobeOp Financial Services is launching its GoOTC service as a standalone outsourced package for over-the-counter (OTC) derivative trade processing.
Previously only available as part of GlobeOp’s integrated middle- and back-office service, the GoOTC package is now available to the widening investment community trading in OTC derivatives.
“Hedge funds and institutional investors are increasingly finding that their derivatives processing systems, many of which are based on Excel spreadsheets, are reaching capacity or are too cumbersome to be effective,” says Ron Tannenbaum, GlobeOp head of sales and marketing. “Hedge fund managers — and mutual funds affected by the European UCITS lll legislation — looking to preserve or increase returns are often unable to enter the OTC derivatives market quickly because they lack an efficient in-house processing platform. Our GoOTC service provides a highly automated, plug and play’ middle-back office solution for valuations, reconciliations, collateral management and payments. It’s an example of our history of technological innovation and adaptability in meeting client needs.”