Cosmos Technologies, the product development arm of Indus Valley Partners, today announced general availability of Cosmos Security Master, a fully customizable, comprehensive security data management solution designed to centrally store and efficiently manage critical security information in a complex multi-fund, multi-strategy, multi-counterparty, multi-asset environment. Cosmos Security Master is the only commercial solution built from the ground up to address the need of the buy-side to stringently control and seamlessly disseminate consistent, real-time security information across a fund’s internal systems – thus ensuring operational integrity with minimal overhead.
Serving as a “single window of truth” for all security, counterparty, legal entity and corporate actions information within a fund, Cosmos Security Master effectively eliminates some of the chronic issues faced by the various business groups (Trading, Risk, Operations, Compliance, Investor Reporting, etc.), viz. unavailability of timely, accurate, reliable security data and the inability of existing systems to manage and track securities in their natural form.
Built in collaboration with a European 20 billion dollar multi-strategy fund along with a large US private equity backed hedge fund over last two plus years, the Cosmos Sec Master is already live at three large funds managing in excess of 35 billion AUM between them across all asset classes and strategies. Cosmos Sec Master is the “only” solution in the marketplace designed “ground up” for the large hedge funds and by the large hedge funds themselves.
>The key differentiator of the Cosmos Security Master is that it allows users to define the structure and format of new SEC TYPES (including legs, schedules, constituents, underliers, etc.) on the fly in multiple ways, viz. using market data vendors, APIs, feeds, and/or manual creation via GUI.
This innovative approach obsoletes the concept of “user defined fields” making every security type and every field customizable by the end user. This approach liberates the end user from dependency of waiting for a vendor release to support new sec types “natively”. The new sec types are immediately available for usage via GUI and API’s without a need for new release.
Similarly Cosmos Security Master clients no longer need to “wait” for Cosmos to support new/niche vendors as the solution gives complete control of the data loading, validation and processing of new data feeds into appropriate Sec Types within the platform.
An intrinsic Reference Master module allows users to create, manage and store generic (Country, Currency, Exchange, etc.) as well as SEC TYPE specific (Coupon Type, Dividend Type, Accrual Convention, etc.) or FUND specific (Analyst, Strategy codes etc) reference data in a single, centralized repository. Users can store multiple mappings for a particular reference data to accommodate downstream/upstream systems accessing the same security. For example, Exchange Data will store Exchange Codes as provided by the Data Provider, Trading System, Accounting System, Pricing System and Fund Administrator – thus enabling seamless dissemination of consistent data across a fund’s systems.
Based on reference data source requirements (e.g. Bloomberg, Reuters, Telekurs, FT IDC, MarkIT, etc.) from different business groups, Cosmos Security Master can be configured to receive data based on a SEC TYPE and attribute combination that is directly controlled by the end users i.e. a fund can plug in a new specialist data vendor on their own and define rules to control the quality of the data flowing into the security master.
Referential integrity of data can be maintained by defining “no duplicity” condition on one or multiple identifier types, so that users cannot create a duplicate of a security that already exists in the Security Master.
Attribute level access control across user groups and security types demarcates which business users have access to what reference information, thus allowing each group to create, manage and view function-specific fields.
The system offers comprehensive audit trail on all attributes of a security with the granularity of update done at a user or system level.
An integrated Corporate Actions module allows users to track and monitor all corporate actions feeds and generate extracts for downstream posting to Position Keeping and/or Portfolio Accounting system.
An intuitive rules builder allows users to define and manage robust operational workflows on a per SEC TYPE basis for security creation and management, for e.g., all listed securities may be created without any user intervention while there can be multi-level approval workflows for OTC derivatives.
Said Gurvinder Singh, IVP CEO: “Cosmos Security Master is the only solution in the market for the big boys (large multi strategy funds) designed by them. It liberates the end user from the vendor dependency for new security type support by allowing them to natively model them in the system and manage plugging in new data sources themselves if they desire. The funds now have a solution that not only works out of box with all major vendors but also gives them the ability to plug in custom data sources as needed, scrub the data and manage clean consistent data in a central repository shared by trading, operations, finance, risk, compliance and accounting. The days of vendor lock in for getting a new data source are over. Pre-defined integration scripts for industry-standard OMS (e.g. Eze Castle) and Portfolio Accounting systems (e.g. Advent Geneva) ensure quick, streamlined implementation for rapid ROI.”