Fully Integrated Component-Based Infrastructure Facilitates Single Version of the Truth Firm-wide for Investment Managers
Misys, a leading provider of software solutions to financial services institutions, announces market leading functionality to help buy-side firms meet Investment Book of Record (IBOR) challenges with its Sophis VALUE solution. Sophis VALUE allows investment management companies to leverage its modular front-to-back platform to improve operational efficiency by enabling access to near real-time intraday data.
Today’s asset management firms are under pressure to increase analytical transparency to the front-office while maintaining data integrity. The Misys solution uses a modular approach to avoid detracting from existing IT investments. Taking ownership of the primary record of positions and trades in an IBOR has become a key operational requirement across the investment management industry. It provides the foundation for a comprehensive platform that can be adapted to meet the specific needs of the firm. Ultimately, this will enable portfolio managers to make faster and more accurate investment decisions by having reliable access to the updated intraday view of positions across all asset classes.
Maan Bsat, Head of the Buy-Side Business Solutions Group in North America at Misys, stated, “IBOR is an area of the business where investment managers are looking to improve upon the end of day deficiencies within traditional OMS or accounting systems by selecting systems with overlapping capabilities. In many cases this results in operational gaps, such as in the timeliness of data or in the processing of derivatives. We have developed a unique platform with our Sophis VALUE product by providing modular business components that can be enabled as needed, as clients retire systems or grow in different areas such as portfolio management, risk analytics, derivatives processing or investment accounting. This unlocks the true value of an integrated system, and helps realize a positive return on investment for investment management firms.”
The recognized need for an IBOR solution is a direct consequence of fragmented, best-of-breed system architectures within the buy-side. As such, and considering all possible combinations of systems in place at investment managers, deploying an IBOR application that only addresses the minimal requirements makes little sense in reality. Instead, successful IBOR implementations will be those that provide additional functions and address specific gaps in a schema of de-synchronized applications. A key requirement therefore is an application capable of providing IBOR functionality that is modular enough to adapt to the requirements of each firm. With Sophis VALUE, the Misys strategy is to expand on its core real-time trade and cash flow repository to deliver IBOR functionality while optimizing front-office technology.
“Sophis VALUE equips managers with an enterprise solution which forms the backbone of an institutional-quality infrastructure,” added Rick McCarthy, Head of Buy-Side
Sales in North America at Misys. “Without this type of infrastructure, an IBOR component would have to be built solely as a data-centric system, which would add to an organization’s architecture and the total cost of ownership (TCO). Although there are certain benefits with best-of-breed systems, we find that a fully integrated yet modular approach offers a wider array of benefits to our clients while creating an innovative new way to meet the ever increasing demands of today’s marketplace.”
Misys Sophis VALUE is an integrated cross-asset solution for investment management that leverages STP to handle the complete trading lifecycle from portfolio management to middle- and back-office operations, to risk management and compliance. It combines sell-side level financial and technological capabilities with the user-friendliness, modularity, connectivity, and ease of implementation required by the buy-side. Misys Sophis VALUE has been adopted by more than 90 institutions worldwide, from start-up hedge funds to the world’s largest asset management companies. To learn more about the benefits for leveraging an integrated platform, download the white paper, “Enhancing the Value Chain” or complete the contact us form on the Misys website.