ETF and hedge fund technology specialist Truss Edge has released a major new upgrade for its technology platform which includes a number of improvements for asset managers.
The firm writes that the new features have been added to provide further options within order and trade management activities, to support the interface between fund managers and administrators and to facilitate the management of digital asset portfolios.
Jay Duffy, CEO of Truss Edge, says: “Our technology is designed to be highly flexible, supported by an intrinsically modular structure. Our latest set of updates are designed to support client firms with the operational requirements they have right now. We are highly reactive to our clients, and these changes reflect the day to day requirements of fund managers.”
Dave Shastri, Head of Strategy at Truss Edge, says: “Digital assets are here to stay and we anticipate their more widespread use within fund management. Our latest update will allow both specialist digital assets funds, including ETFs, and also those with a multi-asset approach to incorporate these into their analysis.”
The firm writes that as digital assets become more institutionally utilised, Truss Edge anticipates rules and norms to be established. In supporting digital currencies, the update has added a new instrument type to the application. This delivers the flexibility to ensure that Truss Edge clients are able to be timely in adopting new reporting and accounting standards as the industry evolves.
Truss Edge has improved the system’s administration reconciliation features, used to resolve any differences which might arise between a fund manager’s accounts within the Truss Edge platform and the external records maintained by their administrator. This has included better navigation tabs and newly created screens for analysing external balance sheets and income statements.
The Truss Edge application performs Order Management which is used by client fund managers to support a variety of process flows. The new release enhances the Order Limits feature which evaluates orders against configured criteria.
Fund managers now have the ability to validate orders based on net or gross consideration. The update also adds greater flexibility to grouping of orders when setting limits.
The Truss Edge Trade Editor was also enhanced to automatically create instruments for NDFs and Forwards. This is consistent with other instrument types processed in the Trade Editor.
As the system’s accounting feature has become more broadly used, the update has added some time-saving features for non-investment activity. This has extended the counterparty to GL reporting and improved the coverage of GL accounting in the Truss Edge Report Designer.