Paris-based Quasar Capital Management had selected Imagine Software’s Derivatives.com service for use with the firm’s new hedge fund. The firm, which has been using software from Imagine since the launch of its Orion fund last December, will use Derivatives.com for risk and portfolio management.
Jerome Barraquand, co-founder of Quasar, explains: “Our flagship Orion fund uses a diverse mix of futures across assets classes, fixed income instruments and derivatives. Hence, a robust, high performance real-time portfolio and risk solution is necessary.”
Barraquand indicates the firm selected the solution because it considered it to be cost effective: “The fact that it is an affordable ASP service means we were able to avoid the major investment in IT support traditionally associated with institutional grade solutions. Fast implementation time measured in weeks was certainly attractive to us, as well. We were also pleased by the customisation capabilities of the system, which enable us to devise our own performance and risk measures.”
According to Barraquand, the final factor that convinced the firm to select the solution was its data management component. “The value Imagine provides by including corporate actions processing, a security master, live market data and prices, curves, volatility and correlation data, for example, is substantial and results in further resource savings for us,” he explains.