The money management firms INTECH, Palm Beach Gardens, Fla., and Pilgrim Baxter & Associates, Wayne, Pa., have completed conversions to new portfolio management systems.
INTECH converted to QED Information Systems Inc.'s IMS-2000 from internally developed portfolio management software.
"We use highly sophisticated proprietary trading models to execute securities transaction on behalf of our clients," said David E. Hurley, INTECH'S senior vice president and chief operating officer.
"Our automated trading programs demanded a system that could keep up with our daily processing requirements. This was critical for us. IMS-2000 meets that need with fast and reliable programs," he said.
INTECH invests primarily in domestic equity strategies modeled on the S&P 500 Index.
INTECH will calculate and report its time-weighted rates of return with IMS-2000. Daily and intraday activity will be electronically communicated to and from INTECH'S banks, trading systems and other parties.
IMS-2000 also will handle investment accounting needs and securities movement and control.
INTECH is a wholly owned subsidiary of Prudential Insurance Co. of America.
For further information, call Anthony Castile or George Shore, QED Information Systems, Marlton, N.J., at (609) 797-1200.
Pilgrim Baxter, meanwhile, has converted to I.M.S. for Windows portfolio management software and Precision Trading trade order management and execution software.
Both software systems are products of INDATA, Greenwich, Conn.
Thirteen portfolio managers, seven traders, seven back-office operators and four analysts use the systems. Some 13 people at Newbold's Asset Management Inc., Bryn Mawr, Pa., recently acquired by Pilgrim Baxter, will switch from a computer mainframe system to the new software next year.
Pilgrim Baxter had been using I.M.S. II portfolio management software, but its installation of Precision Trading is new. Pilgrim Baxter manages mutual fund and institutional assets.
"As one of our initial sites for I.M.S. for Windows, Pilgrim Baxter has been instrumental in helping us create a sophisticated investment management and trading system that is currently relied on by over 80 money management firms," said Robert O'Boyle, INDATA's director of marketing.
I.M.S. for Windows has five modules that can link portfolio managers, traders and back office workers.
New online trading system
WAYNE, Pa. -- SEI Investments and XRT Inc. are offering an interface between a new automated investment trading system, SEI Direct, and XRT Treasury Workstation. The link provides treasurers with an integrated online trading system. For more information, contact Mary Beth Kramer at XRT at (610) 254-0300 or [email protected]
Forex software launched
BOSTON -- State Street Corp. has launched State Street Global Link, real-time, electronic foreign exchange trading software for institutional investment managers.
State Street Global Link provides currency markets research, currency management tools, multimarket equity execution, and real-time foreign exchange trading.
"State Street Global Link has directly benefited our FX trade execution process and, as a result, we are using it at our investment subsidiaries in the United States, United Kingdom and Hong Kong," said Patricia F. Johnston, vice president with the money management firm INVESCO, Atlanta.
"We rely on FX Connect because it makes our foreign exchange trade execution more accurate and efficient," she said.
Stanley Shelton, executive vice president of State Street and head of its global treasury business, said: "Unprecedented growth in cross-border transactions and increasingly volatile currency markets have reinforced the need for global investment managers to focus more effectively on their foreign exchange risks."
In addition, State Street Global Links is available as a stand-alone system and through State Street Corp.'s alliance with Bridge Information Systems. Bridge allows investment managers to access the platform through its private network of 55,000 terminals worldwide.
For more information, call F. Gregory Ahern at State Street at (617) 654-6308.
Research available in Japanese
BOSTON -- A Japanese language version of Research Direct, a provider of full-text equity research reports, has been launched by First Call Corp.
First Call officials said demand for electronic distribution of research in Japan is increasing with deregulation of the Japanese markets.
For more information, call Faye Farshisheh at First Call at (617) 856-1158.