LatentZero says Legg Mason Capital Management (LMCM)has bought its complete set of front office software applications, known as Capstone.
LMCM, which has more than $51 billion in assets under management, will make use of Sentinel (a pre- and post-trade investment compliance solution), Minerva (an order management and trading system) and Tesseract (a portfolio analysis, scenario modeling and order generation product).
LMCM’s decision followed a review of the alternatives. “We looked at a number of leading vendors, initially searching for pre- and post-trade compliance software that would integrate easily with our existing systems,” says Drew Bowden, LMCM’s Chief Operating Officer. “After visiting a number of LatentZero’s sites and speaking with several existing users, we concluded not only that LatentZero’s compliance tool, Sentinel, was just what we needed in terms of functionality and performance, but also that we would get the best result using LatentZero’s complete buy-side offering. In addition to the technology, we felt extremely comfortable with LatentZero’s whole approach. The team was candid, responsive, and highly professional – the kind of people with whom we like to do business.”
Dan Watkins, CEO of LatentZero North America welcomed the LMCM win, describing LatentZero’s Capstone products as future-proof technology. “All the modules are reliable, scalable, easy to implement and integrate well with legacy systems, which makes Capstone highly attractive for asset managers of all sizes,” he says. “Furthermore, LatentZero’s technology is coupled with a team of people who are continually building on their reputation for excellence.”