Fidessa released its new Sentinel Trading Compliance system, a solution aimed to help asset managers to better consolidate, monitor and control their trading operations and risk.
Accrdoing to a Fidessa press statements, “In the current economic environment, asset managers are increasingly concerned about the risk associated with trading operations as part of their overall compliance and risk management strategy. To address this need, Fidessa forged a partnership with a major asset management client, with trading operations in every region of the world, and has developed the most sophisticated trading risk and control system available in the marketplace today.
Fidessa’s announcement did not name the asset management firms.
“Monitoring and controlling trading activity has traditionally been handled by the OMS, but for many large asset managers this approach has become fragmented, difficult to control and insufficient, said Richard Hooke, buyside product director at Fidessa. Working closely alongside a global, tier-one asset management client, we are delivering a single system to centralize control that has robust capabilities to oversee, analyze and impose restrictions on trading practices – something that has not previously been feasible.”
Sentinel Trading Compliance “captures and monitors large volumes of transaction-related data in an efficient, configurable and fully auditable workflow.” The solution recognizes unwanted trading patterns, restrict trades by attribute and limit cumulative volumes by counterparty, desk, trader or market. Fidessa laos claims that “the system enables asset managers to centralize the monitoring and control of their trading operations across multiple systems, markets and trading desks for the very first time. Providing a pre-trade API, the solution is completely OMS-agnostic and comes together with an aggregated, post-trade monitoring suite.”
“Having been developed closely in partnership with a client, Sentinel Trading Compliance sets a new, high standard for compliance risk systems in the buy-side trading space,” said Hooke. “The scalable nature of our solutions also means that it is available to any asset manager, regardless of size. In the current complex and evolving regulatory environment, it is something that no asset manager can risk being without.”
