LiquidityBook’s SaaS-based LBX Buyside POEMS (portfolio, order and execution management system) has been selected by three West Coast hedge funds – Pier 88 Investment Partners, Zeo Capital Advisors and Solstein Capital.
Deployed by each firm in late 2016, the LBX Buyside platform provides a full range of order, execution and portfolio management capabilities, including real-time NAV, full historical P&L, risk management and reporting.
The global, multi-asset platform also includes the integrated LBX Connect FIX routing network, providing seamless, normalised connectivity to over 250 routing destinations worldwide.
According to Jackie Fertitta, Pier 88’s COO and CCO, the San Francisco-based, multi-strategy hedge fund deployed LiquidityBook’s full POEMS platform in Q3 2016 to help manage the trading across its four funds.
“The deployment process for an OEMS can be arduous and time-consuming,” she says. “The LiquidityBook support team, however, was extremely responsive and helpful throughout the entire implementation. Remarkably, they were also able to help us integrate our fourth fund on the platform in only two days. The team at LiquidityBook has been dependable and their attention to detail shows.”
Zeo Capital Advisors manages a long-only, fixed income mutual fund and is growing its product offerings to solve other risk problems. With an institutional mindset from its inception, Zeo chose LiquidityBook’s platform, one of its only infrastructure components not built in-house, to manage trading and operational processes, according to chief investment officer Venk Reddy.
“Our conversations with LiquidityBook have been collaborative with a mutual recognition of evolving together. They were the first vendor who both solved our pain points with regards to trade allocations while engaging as a trusted partner providing a high calibre solution for a small but growing business.”
Solstein Capital, a San Francisco-based investment firm, deployed the full LBX Buy-Side POEMS to handle their existing hedge fund and their new long-only strategy launched in Q4 2016.
“Scrutinising a system’s cost as it pertains to both themselves and their counterparties is a huge priority for most buy side firms today,” says Sean Sullivan (pictured), chief revenue officer at LiquidityBook. “Our platform, with its extensive flexibility and low overhead requirements, is seen by many investment firms to represent a tremendous value. We’re very excited to have added these three funds to our growing list of clients and cap off what was a record year for LiquidityBook in 2016.”