– Real time risk reporting with scalable, multi-asset and venue solution
– Solution to better serve trading institutions as regulators, investors and shareholders signal need for greater reporting requirements
Connamara Systems, LLC (Connamara), providers of end-to-end trading systems, market data solutions and development services, today announced the release of RiskScope.
Connamara’s RiskScope allows Hedge Funds, Proprietary Traders, Futures Commission Merchants and Brokers to view positions and assess risk across multiple asset classes and multiple venues. The solution – meant for traders and risk managers – provides a means to aggregate open positions in order to pinpoint areas of risk. RiskScope, which connects to multiple venues to directly receive venue specific trade reports, normalizes venue and asset class specific trade reports into a common format to allow aggregation. Using live market data, the solution continually updates positions and P&L in real time.
RiskScope currently supports equities, equity options, FX, futures, and futures options. Connamara provides trade capture from top trade execution venues.
"We have found a staggering gap in the ability of multi-asset trading market participants to effectively comprehend the risk levels in their books across asset classes and trading venues," said Jim Downs, founder and ceo. "As we have seen in today’s volatile markets, risks can develop extremely quickly, especially with the current speed of trading. The real-time capabilities of RiskScope are crucial to help firms accurately identify such rapidly developing risk. As financial institutions become potentially subject to more stringent reporting requirements, Connamara is pleased to bring this much-needed, dynamic solution to market."
Connamara sells RiskScope using its trademark payment model – consisting of a one-time licensing fee – in which the code for the product is consigned. This model allows the customer to get the best of the features of the "build or buy" decision. Connamara also provides on-going development and operational support.
Downs continued, "Connamara’s RiskScope is built to be extensible, scalable and robust. It uses components from the production-hardened Connamara Trading Stack, which have been developed over the past 5 years and are in place at some of the most sophisticated trading firms."
RiskScope is fast, scalable, and reliable, developed using the best technologies available. Client interfaces are written in C#, and server components are a mix of C++ and Erlang. While the virtues of C++ and C# are well known in the financial world, engineers at Connamara identified Erlang as a platform uniquely suited to meet the technology needs of today’s trading firms. Erlang offers high-performance, unbeatable reliability, and the potential to scale with multi-core architectures and highly distributed systems.
