Tradar Updates Insight Order System

UK-based portfolio management and accounting software provider Tradar will launch version 4.1 of its Insight accounting, compliance and order management suite on March 31, company officials announced.

Additions to the new version, which builds on version 4.0 launched in July, include a financing module to support accrual of cash interest, stock loans and swap finance, as well as an order import tool intended to streamline regulatory compliance for users. Stock loan accrual calculations will consider prime brokers' rates as part of the process, according to Trevor Headley, global head of product strategy and delivery at Tradar.

"Rather than using a general collateral rate, you can now see the specific rate being applied on some of the hard-to-borrow stocks," he says. "That process will flow through to estimation and show up on the valuation reports as well. The key benefits are getting a seamless process in the data, having that data visible, being able to see the various rates being charged by each counterparty, and having that manifest itself automatically on the various reports."

The order import tool in Tradar Insight 4.1 can recognize orders that originate from places other than Tradar systems, according to Headley. "Some funds have built very sophisticated quantitative models for generating orders," he says. "The key thing is to get that data into the system in a seamless fashion so they can make use of allocation and pre-trade compliance checks."

Insight 4.1 also includes alert monitors, so notices of orders that hit warning levels are actively communicated, says Headley. "There's no manual process there where the fund manager gets a breach or receives a warning and needs to tell compliance to look into it," he says. "They're actively notified of that and can take action, whether that's overriding the warning or simply annotating why the warning was reached and not overriding it. We have override and notification monitors. That should significantly help the workflow within firms."

Insight 4.1 also keeps up Tradar's commitment to a system that supports front-office strategies as well as middle-office processing, as users of Insight 4.0 frequently apply it to those functions, notes Headley.