IKANO Fund Management, the Luxembourg based fund manager, has bought the Eagleye order management and compliance platform from Misys.
IKANO Fund Management will use Eagleye to help address the application of the UCITS European Directive for its clients as well as other regulations in force now, in addition to those on the horizon.
Misys Eagleye aims to reduce operational risk by delivering accurate, timely and comprehensive information about any particular trade and alerts the organisation to potential compliance issues and breaches before they arise. Eagleye endeavours to test each trade against compliance rules and provide the necessary information for portfolio managers to amend the trade if any issues were highlighted.
“We chose Misys Eagleye above its competitors because it offered the best solution for our requirements,” says Alan Ridgway, Deputy Managing Director of IKANO Fund Management. “Other systems we looked at run on older technology and we required a state-of-the-art solution to be sure that we had the flexibility to keep ahead of any regulations that may affect our industry in the future. Misys Eagleye was easily integrated with our existing systems and we are confident that it will serve us well into the future.”
Misys says Eagleye has been designed to handle any financial instrument, currency, asset class and any regulatory or organisational rule. It has also been developed using Microsoft’s .net technology, which Misys claims provides greater flexibility, lower cost of ownership and enhanced scalability.
“We have developed a non-intrusive solution that does not impact on the normal operations within an asset management organisation,” says Clive Pedder, CEO Misys Eagleye. “IKANO Fund Management can have the peace of mind that any trade that is executed by any of its 28 third party portfolio managers will stick within the guidelines and regulations set for them.”