Omgeo Launches Hedge Fund Operations Forum
Post-trade provider partners with community to discuss operational best practices for UK-based hedge funds
New York/Boston/London – May 9, 2011 – Omgeo, the global standard for post-trade efficiency, announced today that it has launched the Hedge Fund Operations Forum (“HOF”), an industry peer group for UK-based hedge fund operations professionals. Members of the HOF will meet on a quarterly basis to exchange ideas and knowledge of operational best practice implementation that goes beyond current regulatory requirements.
The founding members of HOF include the UK’s leading hedge funds, which have some of the most sophisticated post-trade infrastructures in the sector. Members of the forum include BlueBay Asset Management, Cairn Capital, Cheyne Capital, CQS, Marshall Wace and RAB Capital, among others.
Operational best practice is a focus area for many UK-based hedge funds that already meet and exceed regulatory requirements around transparency, efficiency and risk reduction. Research commissioned by Omgeo and conducted by Greenwich Associates* in 2010 showed that over two thirds of hedge funds believe operational improvements and automation have a direct and positive impact on their ability to attract investors and assets.
Luke Venables, Head of Operations from hedge fund CQS, commenting on the creation of the group states, “Omgeo has always been focused on delivering automation and value to the buy-side community. We are, therefore, pleased that Omgeo has started this important hedge fund initiative for the unique requirements of our sector. The HOF provides a meeting place for industry participants to share knowledge about processes for reducing operational risk.”
Adding to this, Leigh Walters, Executive Director at Omgeo, says: “Our hedge fund community is telling us that a robust post-trade infrastructure has become a key competitive differentiator for attracting and retaining both high net worth and institutional investors. The objective of HOF is to provide a forum where hedge fund operations professionals can exchange ideas on streamlining post-trade processes, as well as discuss how post-trade regulatory initiatives may impact the hedge fund sector.
About OmgeoSM
At Omgeo, we are the operations experts, automating trade lifecycle events between investment managers, broker/dealers and custodian banks. We enable 6,000 clients and 80 technology partners in 46 countries around the world to seamlessly connect and interoperate. By automating and streamlining post-trade operations, we enable clients to accelerate the clearing and settlement of trades, and better manage and reduce their counterparty and credit risk. Our strength lies with our global community and our ability to adapt our solutions to enable clients to realize clear returns on their investment strategies, while responding to changing market and regulatory conditions. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Formed in 2001, Omgeo is jointly owned by the DTCC and Thomson Reuters.
* To view the hedge fund operations report commissioned by Omgeo and conducted by Greenwich Associates, please visit www.omgeo.com/greenwich. |
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