Large U.S. Institutional Manager taps LatentZero’s Full Solution for Fixed Income Portfolio Management, Trading and Compliance
London, 4th February 2004 - LatentZero, a leading provider of front-office systems for buy-side trade order management and compliance, today announced that GE Asset Management has licensed its Tesseract, Minerva and Sentinel products to support its fixed income portfolio management, trading and compliance functions respectively.
GE Asset Management, one of the largest institutional managers in the U.S., has chosen LatentZero's full product suite to support fixed income portfolio management, trading and compliance functions across its wide range of portfolios, including both domestic and international fixed income securities. GE Asset Management plans to use LatentZero's solution to manage and support approximately $125 Billion in fixed income assets in both its insurance and total rate of return lines of business.
"We designed sophisticated and comprehensive front-office functionality that meets the demanding needs of large institutional managers like GE Asset Management," said Bill Elbery, head of North American sales and marketing, LatentZero. "The selection by GE Asset Management alongside other recent client signings in the U.S. confirms LatentZero's product suite as the industry's most powerful, front-office solution for trading and compliance. LatentZero's solution is unparalleled in comprehensive functionality, scalability and superior technology."
GE Asset Management selected LatentZero after an extensive review of the buy-side front-office technology marketplace. "LatentZero offers a fixed income solution that provides the advanced functionality and technical architecture we need to bring our fixed income management operation to the next level" said Bob McCorkle, vice president, GE Asset Management.
"Further, LatentZero stood ahead of the pack as a flexible partner with a top-notch professional services staff and state-of-the-art messaging technology for high-speed performance across our global operations. This was absolutely critical in our decision-making process," continued McCorkle. "The implementation project is already underway and proceeding nicely."
GE Asset Management will use LatentZero's front office solution to support their full range of portfolios across trading operations in the United States and the United Kingdom.
About GE Asset Management
A wholly owned subsidiary of GE, GE Asset Management (GEAM) is the investment management arm of GE and is one of the largest managers of institutional assets in the United States. GEAM's core investment capabilities include U.S. and International Equity, Fixed Income, Real Estate and Private Equity. GEAM is a global investment organization and is increasing its client coverage around the world with offices in the U.S., Canada, Europe and Japan. For more information about the company, please visit GEAM's website at www.geassetmanagement.com.
LatentZero is an international business specializing in front office portfolio management, trading and compliance products for global asset management companies, custodians and central banks. All LatentZero products are cross asset-class, supporting equity, fixed income, derivatives and currency functionality. Currently 2,500 users from more than 30 of the world's top investment managers use LatentZero's products, either as stand-alone solutions or as part of a complete front-office suite, to manage approximately $5.3 trillion in assets globally.
- Tesseract is a sophisticated decision support tool that enables the portfolio manager to model and analyze portfolios, create 'what ifs' and automatically generate orders.
- Minerva is a global order management and trading system. It offers full FIX (Financial Information eXchange) support and easy integration with exchanges, ECNs and various liquidity sources.
- Sentinel is the pre-trade and post-trade compliance system that checks for breaches of client, company and regulatory rules. Sentinel can manage complex portfolios with a wide range of instruments. Its rule libraries cover every major regulator.
These products can be implemented as a single front office solution, or individually, as part of a 'best in class' approach.
The LatentZero technical architecture is high performance and state-of-the-art. It is 24x7, flexible, open and scalable. It works seamlessly with any other front, middle or back office technology and significantly differentiates LatentZero from its competitors.
LatentZero has offices in Boston, New York and London. LatentZero's products are used by a wide range of buy-side organizations including five of the top 10 largest global investment managers.