Truss Edge, a specialist technology and consulting business that supports the middle and back offices of fund managers, has made further improvements to its existing software architecture. The latest update for the company’s software for hedge fund and ETF middle and back office operations has been designed to help investment and risk teams by delivering a higher level of quality information.
Accuracy and timeliness of data are essential components of successful risk management in current fund management operations.
Jay Duffy, CEO of Truss Edge, says: “We have enhanced the speed and efficiency of our systems with this new release. Truss Edge brings fund managers the advantage of a modern and agile software platform that automates reconciliations and reduces the number of exceptions your personnel need to look at.”
Truss Edge has added notes to trade data from the prime broker/custodian and included this on various middle office screens. The new updates also added new functionality to use this data in trade matching.
While most reconciliation is fully automated and straight through, the notes are designed so that the middle office teams can more efficiently handle exceptions in the reconciliation of the manager’s trade records with the street.
Trade breaks can now have connected cash breaks automatically identified. The updates have enhanced cash reconciliation by automatically identifying cash movements from the prime broker trade data, which means this data can be efficiently identified in a connected cash reconciliation. Overall, these changes speed up the handling of trade and related cash breaks.
Truss Edge now allows the administrative user to configure scheduled tasks so that they can be processed in way that is dependent on other scheduled tasks. For instance, a user may want a data import to be consumed first and then a specific extract or report to be processed. In the past, setup of these dependencies required technical support. This update is consistent with the Truss Edge philosophy of enabling as much management of the application as possible by business analysts.
Dave Shastri, Head of Strategy at Truss Edge, adds: “We are continuously updating our core software services to meet the requests of our client base in the hedge fund and ETF spaces. Operational requirements are changing all the time, but our systems have the flexibility to adapt and grow where needed. Ultimately, these new changes should make it easier for client fund managers to be aware of what is going on within their funds.”
