Quintillion Limited, an independently operated fund administration company, has released an update to Q-Acquire, its Trades Workflow system.
Q-Acquire i completely integrated with Calypso, a provider of trading applications. This is another in a series of successful integrations with portfolio / order management systems.
Q-Acquire facilitates a completely automatic and systematic application to the entire trades process; production of security masters, including OTC derivative positions or other static data, booking trade information and resolving all trade exceptions in a highly efficient and effective manner. The automatically generated daily trade file from Calypso contains trade details along with the economics of the OTC position. All OTC securities are automatically built within Quintillions accounting system by Q-Acquire before the trade is booked, eliminating any manual intervention.
This integration also ensures the mapping of additional OTC trade details such as REDID, Doc clause, attachment / detachment points, underlying reference entity ISINs etc. This technology using robust workflow systems, places Quintillion firmly at the forefront of developing processes that facilitate complete integration between the Manager and administrator, allowing high volume and complex trading data to be seamlessly completed and reconciled.
Quintillion also maps internal client Investment identifiers as the primary security identifier on any OTC security, facilitating increased compatibility in the daily triangular reconciliation to the Investment Manager and Prime Broker(s). It also ensures granular profit and loss reconciliations, position reconciliations and greater transparency in the cash reconciliation process in terms of mapping high volume upfront / unwind / periodic OTC payments. Quintillions Q Acquire trades process is integrated with a range of distinct OTC instruments including Credit Default Swaps, Interest Rate Swaps, OTC Options, revolving and term loan bank debt.
Our hedge fund customers require real-time connectivity to supporting systems. Calypso works with leading solutions such as Quintillion to offer out-of-the-box connectivity with prime brokers, trading platforms, data providers and other service providers supporting this community. This level of technical interoperability enables hedge fund managers to focus on trading strategy, execution and innovation, says Charles Marston, chairman and CEO, Calypso Technology.
Quintillions technology platform in terms of receiving trade data along with the various economics of complex OTC derivatives significantly reduces errors related to the manual booking of any trades along with the setup of these complex securities within their accounting system, says Pete Davis, operations manager, Pamplona Capital Management LLC.
Providing this link between both systems helps Quintillion to reduce operational risk by replacing manual processes with a more robust systematic platform, says Neil Mackay, head of Investment Operations at Quintillion.
L.D.