Bank Of Bermuda Launches New Front Office Trading Platform

by Phillip Morton, Investors Offshore.com

11 April 2003

The Bank of Bermuda's Global Fund Services Division (GFS) this week announced the launch of its new front office and portfolio management platform, known as GFSTrade.

The new tool is powered by Beauchamp Financial Technology, and provides near real time P&L reporting along with multiple prime broker connectivity and trade processing functionality.

According to Drew Douglas, Head of Product Development for GFS, the new system should give fund managers a higher degree of control over trade processing, and will offer unrivalled flexibility in terms of P&L report writing. Trading orders and executions and current positions will be updated in near real time, and immediate changes in P&L will be displayed.

"We expect GFSTrade to make a significant impact in supporting a manager's front office operations and have already received an excellent response to the system thus far," Douglas commented.

GFSTrade is based on Beauchamp Financial Technology's FundManager product, and according to Chief Executive Stuart Farr, over 80 globally based fund mangers have bought the product, managing a total of $30 billion.

The system has a wide range of standard and unique features such as 'drag and drop' configurable reporting and flexible 'slice and dice' information categorisation. In addition, the platform has automatic links to all major prime brokerages as well as with GFS's fund administration system. GFSTrade also has a strong focus on emerging and alternative investment markets.

"Further developments are being planned to add to our growing suite of products," Simon MacLean, Head of Systems and Operations for GFS announced.

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