Quintillion integrates Trades workflow with Calypso
Release Date: 27 April 2009
Dublin, 27 April 2008 - Quintillion Limited, an independently operated fund administration company, has released an update to Q-Acquire, its industry leading Trades Workflow system. Q-Acquire i completely integrated with Calypso, a leading provider of an integrated suite of trading applications designed for banks and hedge funds trading a broad range of financial asset classes including the latest derivative products. This is another in a series of successful integrations with leading portfolio / order management systems.
Q-Acquire facilitates a completely automatic and systematic solution 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 ISIN’s etc. This cutting edge and unique technology using advanced 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.
“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,”states Charles Marston, Chairman and CEO at Calypso Technology.
Calypso’s open Java APIs make it easy for end-users and Java developers to extensively configure and quickly implement the system, and adapt to changing needs without requiring outside services.
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. Quintillion’s 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.
“Quintillion’s 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.” Said Pete Davis, Operations Manager at 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,” said Neil Mackay, Head of Investment Operations at Quintillion”.
Quintillion is an indigenous and independently operated fund administration company which was established in 2006. The majority ownership of the company is shared by the management and staff, with a 25% minority share owned by a US seed investor. Quintillion provides a complete suite of fund administration and back office support along with shareholder services to a wide variety of clients. Experienced accounting and investor services professionals, coupled with leading technologies which are deployed in an innovative manner, are at the core of its ability to deliver superior fund administration solutions to hedge funds and asset management firms. Our client base of hedge fund managers, institutions and corporations run a broad selection of investment strategies and fund structures that are serviced by client focused teams. Further information: www.quintillion.ie
Calypso is a global application software provider that delivers an integrated suite of trading applications to the capital markets function within banks and other companies participating in the world’s financial markets. Founded in 1997, Calypso brought together the best capital markets business knowledge from financial centers in London, Paris and New York, combined with the best technology knowledge from Silicon Valley.
The Calypso Trading and Risk Management Platform is the industry’s first integrated application suite designed from the outset to be a front to back office, cross-asset platform for derivative and treasury products that readily adapts to change. Banks and other companies use Calypso to improve financial innovation and capitalize on ever-changing market opportunities. Calypso provides an open, modern platform that adapts to our customers’ needs today and in the future.