Latest News
Syncova is pleased to announce that as recent market events have driven hedge funds to move to multi Prime Broker relationships, Optima/Fund is increasingly being chosen as the best tool to manage margin and financing.
The liquidity issues and vulnerability of some Prime Brokers during the financial crisis of this summer has highlighted the need for hedge funds to use more counterparties and have better controls over efficient use of the relationships. When adding Prime Brokers, hedge funds need to accurately manage the margin and financing costs, and test scenarios that could cause margin calls. As the only vendor system dedicated to this function, Syncova are pleased to be winning new clients for their Optima/Fund platform.
Syncova has recently won two more mandates from top rated hedge funds totalling over $40Bn in AUM. These funds are using Optima/Fund to predict margin requirements at their counterparties and provide a detailed and automated daily reconciliation. The What-If features were also important in the purchasing decision as this provides the ability to analyse scenarios that could produce margin calls such as Prime Brokers increasing margin rates. Read press release
2008 News and Plans
After launching OPTIMA/Fund in early 2008, Syncova currently have the following release schedule for the Optima platform::
OPTIMA 2.1 — Released November 2008
This release provided a much enhanced reconciliation process allowing finer control over the reconciliation with PB and OTC counterparties.
OPTIMA 2.2 — Due for release late Q1 2009
This release will provide a much enhanced reconciliation process allowing finer control over the reconciliation with PB and OTC counterparties, and enhancements to the cross Broker allocation including integration of financing costs, ability to set different optimization goals and more flexible constraints.
Press releases
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20 Oct. 2008:OPTIMA/Fund’s margin management wins business as Hedge Funds add Prime Brokers |
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26 Mar. 2008: Hedge Fund companies go live with OPTIMA/Fund |
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28 Jan. 2008: Syncova launch OPTIMA/Fund |
Click on any press release to download it in full as an Acrobat pdf file.