Eze Castle Integration has published its 2013 Global Hedge Fund Technology Benchmark Study, which provides insight into front, middle and back office technology choices at buy-side firms.
Based on data collected from 538 firms located in the US, UK and Asia, respondents revealed their preferred technology solutions in a range of categories including market data, portfolio accounting, order management, archiving, mobile technology and more.
Eze Castle Integration asked survey participants to detail their use of front, middle and back office technologies.
Key data points include:
· Portfolio accounting: Fifty-four per cent of respondents are using an Advent Software product for portfolio accounting. Respondents also use SunGard VPM, Tradar, Linedata and in-house or proprietary systems.
· Market data and analytics: Bloomberg dominates the market with 92 per cent of firms using this platform for market data services and 82 per cent using Bloomberg for market analytics.
· Research and document management: The need for research management systems (RMS) continues to grow, however, the survey showed moderate adoption of third-party solutions. The majority (55 per cent) of respondents said they are not currently using a formal RMS tool.
· Order management: Consistent with 2012 findings, Eze Software Group’s Eze OMS continues to be the market leader for order management capabilities, followed by Bloomberg’s Asset and Investment Manager (AIM), Advent’s Moxy and RediPlus EMS.
· Message archiving: Global Relay is used by the majority of respondent (82 per cent) and increasing attention is being placed on archiving of social media interactions.
· Mobile devices: Although BlackBerry remains the top choice of 92 per cent of respondents, the adoption rate of Apple devices has risen steadily year over year from 10 per cent in 2011, to 30 per cent in 2012 to today’s figure of 42 per cent.
Additional areas covered in the benchmark study include outsourced fund administration, risk management tools and customer relationship management software.
“As the global leader in hedge fund IT, Eze Castle Integration is committed to educating the alternative investment market about the various technologies available to effectively and efficiently run their business,” says Bob Guilbert, managing director of Eze Castle Integration. “With the insight from our annual benchmark survey, hedge fund managers are empowered to select technologies and service providers that will best support their companies.”