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Linedata Repackages Fund Accounting Solution to Offer Investment Book of Records

Linedata has repackaged the components of its Icon fund accounting software to deliver an investment book of records (Ibor) platform that aggregates data from multiple sources across an organisation and manages position data to provide start-of-day and intraday views of positions and cash.

Called Linedata I-BOR, the platform operates in real time and provides historical and contemporary security position and valuation views, as well as current and projected cash positions. Data can be ingested from multiple sources, corporate actions can be managed and data outputs can be seen onscreen, exported to spreadsheets or sent as files to other systems. Open programming interfaces allow the platform to be integrated with the majority of vendors’ portfolio management and fund accounting systems, and allow these systems to look into the Ibor data.

The platform is expected to find favour among large organisations with multiple back-office systems that want to consolidate data into a single and timely view of position data. It is also expected to be of interest to firms that have outsourced back-office functions and need an independent Ibor to provide a view of positions and reconcile with service providers.

Paul Westgate, product manager at Linedata, says the Icon fund accounting software can be used to create an Ibor and some clients are doing this, but he adds: “We wanted to bring a true Ibor solution to market rather than a big solution for a discrete business problem. So we have taken away any unrequired functionality to provide a slim Ibor solution that is priced appropriately.”

Linedata I-BOR is available immediately and is offered as both an in-house deployed or hosted solution. It is pre-coded to take in market data from Thomson Reuters and Interactive Data, although data from other sources can be integrated.

Westgate says: “From a trading perspective the platform provides more comprehensive and timely positions data. Instead of typical end-of-day data, firms can see start-of-day positions and near real-time refresh means they can have an accurate picture throughout the day. From a risk management perspective, the consolidation and aggregation of positions data allows a complete and real-time view of positions to be presented to a risk analytics system.”

Looking forward, Westgate says Linedata will work with clients to develop the platform to cover the broadest range of asset classes and event types. While equities, fixed income, futures, options and some credit derivatives are already in the scope of Linedata I-BOR, the company plans to add more sophisticated derivates and related events.

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