Use Case: ETF Issuer
One of Israel’s largest investment houses, Psagot manages a wide range of financial products. Psagot has been using our systems for over 10 years in almost all departments (Active/Passive Funds, Brokerage, Portfolios). We consider Psagot to be our Cinderella story as Psagot initially relied on a large scale systems vendor, but eventually came to realize that our solutions were superior in comparison to our competitors
Challenges prior to implementing IntelliTrade OMS and IntelliHub:
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Client was operating in a fragmented location/branch environment with numerous trading systems, reporting, and statement formats/standards.
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The organization relied on various different information systems (Bloomberg, IB, Rueters, Exchanges, Etc).
Scalability issues were impacting issuing new ETFs due to resource requirements:
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Traders for market making and hedging was limited to 7-8 ETFS per trader.
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Backoffice reporting requirements (SEC, Trustee, Trading Compliance, Etc.) which were mainly manual/Excel based were becoming increasingly cumbersome to produce.
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Compliance became very resource intensive resulting from required aggregate online picture of all positions/exposure (e.g. to monitor excessive trading, investment guidelines, restrictions).
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Marketing needed to issue fair value OTC quotes.
Following adoption of IntelliHub + IntelliTrade OMS:
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All data within the organization is now aggregated and normalized in IntelliHub giving the issuer a comprehensive real-time view of all positions, open orders, and real time market data.
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Traders are now each able to manage both market making and hedging for 30+ products.
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Report generation has been moved away from users, now automated using RTD providing on-the- fly real time report capabilities (Backoffice, Marketing, Compliance).
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The process of adding and integrating additional branches/locations/users or any further IT system has become substantially simpler.