SGGG Announces first hedge fund appliance
15 December 2010 Toronto
Image: Shutterstock
SGGG Portfolio Systems, has announced their first appliance built specifically for hedge fund managers. The appliance combines hardware, operating system, and SGGG’s proprietary hedge fund software in a single pre-installed and pre-configured box. When connected to a hedge fund’s network, the system provides real-time portfolio management and trade order management.
Hedge funds use the system for the entire trading and portfolio management process – to send trade orders to dealers, keep track of trades and portfolios and interface with their custodians. The appliance has pre-configured connections to numerous electronic trading systems and prime brokers. It combines the benefits of the SGGG online service with the improved response and interaction of a desktop application.
The appliance is proving very popular and SGGG has over 20 clients using it. Sophisticated features such as FIX messaging (a protocol for sending and receiving trade orders electronically) and automated position reconciliation usually require considerable network and software configuration. The appliance is designed to provide this functionality for any fund, even those without on-site IT personnel.
Dan Rissin, CEO of SGGG Portfolio Systems, notes “The appliance model enabled us to create a highly cost effective solution which can be targeted at funds that have traditionally been unable to afford or support high-end portfolio management software. The system does not require customization because it has been designed to be easily configured for each client’s needs.”
Mark Tredgett, Managing Partner at hedge fund Vantage Asset Management commented on the implementation process “The team at SGGG installed our portfolio management system quickly and efficiently, and ensured it was integrated with our prime brokerage and electronic trading systems. This was a critical step for our firm because the system has fully automated our business processes. As a result we can view every position in the portfolio in real time throughout the day.”
The SGGG appliance can be ready to run in a couple of weeks, compared to the typical 3 to 6 month implementation period for similar systems. Ongoing support and upgrade costs are minimized through integrated remote support.
Hedge funds use the system for the entire trading and portfolio management process – to send trade orders to dealers, keep track of trades and portfolios and interface with their custodians. The appliance has pre-configured connections to numerous electronic trading systems and prime brokers. It combines the benefits of the SGGG online service with the improved response and interaction of a desktop application.
The appliance is proving very popular and SGGG has over 20 clients using it. Sophisticated features such as FIX messaging (a protocol for sending and receiving trade orders electronically) and automated position reconciliation usually require considerable network and software configuration. The appliance is designed to provide this functionality for any fund, even those without on-site IT personnel.
Dan Rissin, CEO of SGGG Portfolio Systems, notes “The appliance model enabled us to create a highly cost effective solution which can be targeted at funds that have traditionally been unable to afford or support high-end portfolio management software. The system does not require customization because it has been designed to be easily configured for each client’s needs.”
Mark Tredgett, Managing Partner at hedge fund Vantage Asset Management commented on the implementation process “The team at SGGG installed our portfolio management system quickly and efficiently, and ensured it was integrated with our prime brokerage and electronic trading systems. This was a critical step for our firm because the system has fully automated our business processes. As a result we can view every position in the portfolio in real time throughout the day.”
The SGGG appliance can be ready to run in a couple of weeks, compared to the typical 3 to 6 month implementation period for similar systems. Ongoing support and upgrade costs are minimized through integrated remote support.
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