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SpotTrader® is the front-office software for portfolio management (PMS) and order management (OMS) specially dedicated to proprietary traders and alternative investment fund managers regulated by the European Union AIFM Directive. Closely interfacing with Bloomberg®, it enjoys the technology and the quality of market data provided by the world’s financial information leader. In addition to its electronic trading functionality, SpotTrader can be enriched with the quantitative strategy execution engine SpotEngine®, which enables full automation of investment decisions via real-time connectivity to Bloomberg market data and to brokers that accept fully electronic transactions. SpotTrader has its own SQL database hosted on a local machine or on our secure cloud. In the case of the cloud, managers can use the software remotely from any Internet access, under maximized security conditions thanks to communication encryption.

Trade Blotter

The software’s front-office features allow electronic or manual recording of trade tickets concerning the main listed instruments (equity, ETF, ADR, bonds, futures, options and warrants), OTC FX contracts (spot, forwards/NDF, swaps) and equity and index CFDs. Corporate Actions and multi-currency cashflows (inflows/outflows, subscriptions/redemptions) are also supported.
The instruments are identified using the Bloomberg symbology. Bloomberg also supplies the reference, historical and real-time data. The software also implements Bloomberg’s Open Symbology (BSYM).
The blotter can be exported to the prime brokers and portfolio administrators via standard text files, FTP upload or Swift. The counterparties (prime brokers, broker-dealers, execution brokers, etc.) are referenced in the software database with their Bank Identifier Code (BIC), therefore simplifying notification and post-trade reconciliation procédures.

Electronic Trading

Orders can be sent to brokers electronically via Bloomberg EMSX (the platform provides access to more than 2,500 brokers), FIX or proprietary APIs (Interactive Brokers). The execution reports are captured electronically, allowing trades to be recorded as they occur without manual intervention, followed by immediate notification of prime brokers. SpotTrader’s integrated OMS is also used by the quantitative strategy execution add-on module SpotEngine, rendering trading fully automated.

Quantitative Trading

SpotTrader’s PMS/OMS features can be enriched with the quantitative strategy automaton SpotEngine, which allows execution of algorithmic investment strategies under real-life conditions implemented using the SpotAPI Java toolkit and tested with SpotLab backtest software. The computer code developed for the backtest and materialized by a Java class library (JAR) is strictly identical to the code used for the actual execution. The goal is to optimize the time required to develop a systematic strategy and avoid introducing technical bias between a simulation performed using historical market data, and real execution on the markets. SpotEngine can execute several strategies simultaneously in several portfolios and takes full advantage of the real-time portfolio valuation engine, which enables implementation of truly dynamic money management. High-frequency trading (HFT) performance can be achieved under certain technical conditions.

Real-Time Portfolio Monitoring

With its real-time portfolio valuation engine, SpotTrader allows valuation of exposures, NAV, P&L, option sensitivities (Greeks) and the portfolio cash balance based on the tick-by-tick market data feeds supplied by Bloomberg. The monitoring screen provides a detailed view of the portfolio and direct access to the software’s integrated OMS in order to access the order book and open or close a position in a few clicks.

Derivative Contracts Management

SpotTrader offers functions dedicated to the management of derivatives (futures, CFD, FX forward/NDF, FX swap) and listed options by simplifying expiration operations (physical or cash delivery) and rollover operations.

Corporate Action

SpotTrader allows management of the most classical corporate actions and recording of cash and security transactions affecting equities and bonds held in the portfolios. These events can be allocated to analytical sub-portfolios and participate in the performance calculation of an investment strategy.

Portfolio Valuation

The software enables mark-to-market portfolio valuation on a daily, weekly or monthly basis using the historical data supplied by Bloomberg. SpotTrader includes a library of extensible statistical indicators that can be used to enrich portfolio reporting and measure their performance relative to one or more benchmarks.

Performance Attribution and Post-Trade Analysis

Performances can be calculated per open position or per sub-portfolio. An analytic feature allows the calculation of financial indicators for a set of trades and cash flows by aggregating costs and profits generated by a given investment strategy (Statistical Arbitrage, Pair Trading, Mergers & Acquisitions, etc.).
The software also has functions for calculating and reporting aggregated transaction costs per broker.

Equity Basket Trading

SpotTrader lets you create a list of stocks that you can save, trade, manage and track as one entity. Market orders can be executed via the OMS integrated in the software or transmitted to online brokers allowing basket trading.