San Francisco - Advent Software has
announced Syncova Essentials, a new margin and financing
reporting solution for hedge funds. Advent® Syncova
Essentials is available as a service and offers hedge funds
automated reporting of margin, financing and stock loan
information across multiple prime broker counterparties, it aims
to provide improved transparency on terms and fees with reduced
IT responsibility and lower total cost of ownership.
"Cutting costs, controlling risk and improving management of client and counterparty relationships are issues that have become increasingly important for hedge funds in the post-credit crunch world. For smaller funds with limited operational resources, this issue presents a particular challenge. Advent® Syncova Essentials allows funds to benefit from improved analysis, monitoring, and management reporting, to achieve independent validation of prime broker fees and equips firms to respond to investor demands for better controls and reporting. Because we are able to offer the solution as a service, we can deliver the benefits of transparency and control to hedge funds at a low, total cost of ownership," said Vice President of Product Strategy, Advent Software, Liam Huxley.
Advent® Syncova Essentials is powered by the SmartXchange data hub and provides automated access to counterparty margin and finance files, enabling the solution to provide funds with a range of daily reports that include:
• Margin & Financing Summaries - Reports across all
counterparties showing figures at account level for value, margin
requirements, daily and MTD accruals.
• Margin & Financing Daily Change Reports - A daily overview across all accounts and counterparties showing the day-to-day change in account level MV, cash, equity, margin and excess rolled up to broker and fund level.
• Attribution Reports - Provides a view of how margin and financing charges are attributed back to internal books whether at trader, portfolio manager, strategy or any other level.
• Custom Alert Report - Identifies breaches of any of the custom alert rules defined, such as position, bucket and account level constraints.
• Exposure Report - Demonstrates the GMV, NMV and margin requirement in a matrix by broker and country, broker and sector, broker and currency, broker and instrument class.
• Comparison Reports - Side by side comparison of borrow rates, margin haircuts and prices.