The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Convexity Adopts Asset Control’s AC Plus as Starter Pack

Newly launched hedge fund Convexity Capital Management’s selection of Asset Control’s AC Plus platform is aimed at setting in place a reference data infrastructure that to underpin the fund’s expansion into new areas of business.

Convexity implemented AC Plus in under two days, and is using the system as its central repository in support of its integrated front-to-back-office processing systems. The relatively straightforward installation – there was no legacy platform to integrate with – will initially be used to handle data from one major data feed, but is expected to be migrated to others as the hedge fund moves into additional markets.

Convexity, based in Boston, was established last year by Jack Meyer, investment chief of Harvard University’s $25.9 billion endowment plan, with other former Harvard Management Co. executives. Harvard itself has pledged to invest around half a billion with Convexity.

So far, the fund has been tight-lipped about its plans, beyond stating that it expects the AC Plus platform to provide the “scalability to grow the system as the company grows.” More specifically, the fund cited AC Plus’s ability to link information such as security master and corporate actions.

David Hirschfeld, senior vice president of operations at Asset Control, says AC Plus initially will handle a single, unnamed feed at Convexity – an implementation he likens to a ‘starter pack’ – most likely from Bloomberg, Interactive Data or Reuters, although Hirschfeld isn’t saying. The AC Plus platform ultimately is expected to integrate further external data sources, and will distribute data to Convexity’s in-house applications.

The rapid deployment was also possible, Hirschfeld says, because the client had a very clear idea of what it wanted. Asset Control was also able to run a close-to-production version at its own premises, before delivering AC Plus was delivered turnkey, configured to the business requirements as defined by Convexity.

Related content

WEBINAR

Upcoming Webinar: FRTB: What still needs to be done before the global deadline of January 2023?

Date: 8 March 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes While implementation of Fundamental Review of the Trading Book (FRTB) regulation has been delayed twice for reasons first of complexity and second of the coronavirus pandemic, the final deadline of January 1, 2023 is less than a year away....

BLOG

DANIE Consortium on Course for Legal Entity Status, Additional Data Sharing Apps

The DANIE consortium is close to confirming a memorandum of understanding (MOU) with a group of large global banks that will define the consortium’s participant community, add momentum to the project, and provide a stepping stone towards making DANIE a legal entity that is industry owned and governed. The consortium was formed in late 2019...

EVENT

TradingTech Summit London

Now in it's 11th year the TradingTech Summit London brings together the European trading technology capital markets industry, to explore how trading firms are innovating in today’s cloud and digital based environment to create flexible, scalable trading platforms to support speed to market and business agility.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...