WINDSOR, Conn. -- Following extensive testing with money managers, SS&C Technologies Inc. has released Antares 1.0, a real-time trader order-management and profit-and-loss reporting system.
Antares is designed for institutional asset managers who rely on comprehensive information for order entry and trade execution, according to officials with SS&C, Windsor, Conn. Antares handles trade orders in equities, fixed-income and derivatives and is designed for seamless links into CAMRA 2000, a portfolio accounting and management software system, and Total Return, a back-office accounting and reporting software system.
Antares also provides cash management functions and financing information on both a trade and settlement day basis.
SS&C recently completed a nine-month testing and use of Antares at 10 investment firms of varying size and asset mix, said Robert C. Sherpro, senior vice president at SS&C.
Moore Capital Management Inc., New York, a global macrofund, which was part of the Antares test, recently licensed Antares for its trading environment.
"We chose to partner with SS&C on the development of Antares because they had the knowledge to build a trading system that would meet our complex requirements," said Kevin Shannon, chief financial officer at Moore Capital.
Besides Moore Capital, Allegro Capital Ltd., a hedge fund manager, also licensed Antares. For further information, SS&C's Web site is at www.ssctech.com.
Harvard enrolls for PAM software
CAMBRIDGE, Mass. -- Harvard Management Co., which runs the $13 billion Harvard University endowment, has licensed PAM for Mutual Funds investment management software. Harvard Management also licensed the PAM Software Development Kit. The PAM products are made by Princeton Financial Systems Inc., Princeton, N.J.
"PAM is a good fit for us. Its ability to take a pool and break it into units will be tremendously helpful in accounting for our charitable trust," stated Jane Mendillo, vice president of trusts and external management for Harvard Management.
"PAM also has multiple cost bases that can be held and tracked. There just weren't any other systems we saw that had these capabilities," she said.
Ms. Mendillo said Harvard began searching for an investment management system in 1997 when growing trust volume put increasing stress on its proprietary accounting system.
Harvard's licensing of PAM represents Princeton's first client in the higher education and endowment market. Harvard programmers plan to use PAM SDK for building trust related functions into PAM.
Alabama treasurer selects IMS-2000
MONTGOMERY, Ala. -- The Alabama treasurer's office has licensed the investment accounting software system IMS-2000 from QED Information Systems, Marlton, N.J.
The treasurer's office licensed IMS-2000 following a study on long-term information technology needs by the office, according to a statement from QED.
6 BARRA programs available on Web
BERKELEY, Calif. -- BARRA Inc., Berkeley, Calif., has made six software programs accessible over the Internet for the first time at the company's Web site, www.barra.com.
The programs include Market Impact Model; Real-Time Treasury Analytics; Directus; BARRA Equity Risk Data; Bond Express; and TEDnet.
All products online offer free trials.
Market Impact Modes provides pre-trade transaction cost estimates. Users can see recent trends in market liquidity, look up the cost for trading a specific trade or analyze a list of trades.
Real-time Treasury Analytics gives relative value information for off-the-run (previously issued)Treasury issues.
Directus monitors and reports the inside share transactions made by more than 20,000 directors of every U.K. quoted company, and it maintains a history of transactions and holdings for each director.
BARRA Equity Risk Data provides key equity statistics, including BARRA's predicted betas. Bond Express provides a database of bond offerings and bond-related information. TEDnet is an online version of The Estimate Directory, providing worldwide instant access to detailed and consensus broker forecasts of earnings, dividends, sales, cash-flow and associated ratios of growth figures.
Advent picks up 3 more clients
SAN FRANCISCO -- Three money managers have each licensed Advent Corp.'s Axys portfolio accounting and management software: Bishop & Associates, Philadelphia; Compass Capital Management, Minneapolis; and Augustine Asset Management, Jacksonville, Fla.
The managers sought enhanced functions, including fixed-income capabilities, more sophisticated multicurrency accounting and performance and management reporting, stated Stephen Dubois, vice president of product marketing for Advent, San Francisco.
Axys is year 2000 compliant, Mr. Dubois noted.
More matches added to POSIT system
NEW YORK -- Investment Technology Group Inc., New York, has added a sixth daily trade match to its POSIT electronic stock-crossing system for trading American depository receipts and a seventh match for regular stocks.
The match, starting at 8: 45 a.m., EDT, will be for ADRs, including more than 1,800 ADRs trading on the New York Stock Exchange, the American Stock Exchange Nasdaq and the over-the-counter market.
"Given the growing activity and interest in ADR trading, an ADR-only match was a logical next step in enabling us to provide more concentrated liquidity, along with the advantage of POSIT's midpoint pricing," said Tim Naiman, vice president of ITG.
Only 15% of all ADRS are listed on the NYSE. Listed ADRs have always been traded in POSIT's other matches. More than 75% of U.S. institutions hold ADRs in their portfolios, according to the Bank of New York.
Glickenhouse signs up for CheckFree service
ATLANTA -- Money manager Glickenhaus & Co., New York, is licensing CheckFree Corp.'s portfolio accounting services.
Margaret Beal, Glickenhaus' director of client service and administration, said her firm chose CheckFree because of its willingness and ability to customize its software to meet Glickenhaus' needs. Glickenhaus manages equity, balanced and fixed income portfolios.
CheckFree's application programming language interface will allow Glickenhaus to electronically update and reconcile client accounts. It also will provide enhanced reporting, billing and trading capabilities.
Y2K problems addressed in book
ROLLING MEADOWS, Ill. -- Information Systems Audit and Control Foundation, Rolling Meadows, a not-for-profit research organization, has published a book for executives on potential computer problems relating to the year 2000.
The book, "An Executive's Guide to the Year 2000," was written by Robert G. Parker, a partner with Deloitte & Touche, Montreal, Canada.
The price of the 64-page, soft-cover book is $10. For further information, contact the association bookstore at (847) 253-1545. You can also send an e-mail message to [email protected]