Bloomberg Trading Solutions executives today announced the launch of Bloomberg Hedge Fund Tool Box (HBOX), a complete platform that meets the growing number and needs of hedge funds.
Bloomberg also revealed the results of a hedge fund survey that showed regulations are prompting reviews of fund technology and operations.
"The hedge fund industry is facing new challenges from the heightened regulatory environment," said Dan Matthies, Bloomberg's Global Head of Asset and Investment Manager (AIM). "At the same time, hedge funds are facing more investor scrutiny, intensifying cost pressures and increasingly complex trading strategies."
A survey of hedge funds with average assets of $200 million, conducted by Bloomberg Trading Solutions, found that investor scrutiny over funds' operational infrastructure jumped during the global financial crisis, with nearly half of the funds feeling that investor scrutiny increased dramatically. The survey showed that cost pressures are higher than ever, with over 80 percent of hedge funds agreeing that cost efficiency on technology infrastructure is 'very important.' Additionally, over 95 percent of the funds that responded said they are currently reviewing their technology and operational systems.
"Bloomberg HBOX empowers hedge funds with a turnkey solution, so they can focus on investing and client relationships, rather than on regulations and operations. HBOX is appropriate for hedge funds of all maturity levels and is fully integrated with the Bloomberg Professional® service," added Matthies.
Built for fund managers, traders, operations and compliance professionals, Bloomberg HBOX is a scalable solution that integrates essential front-to-back office tools into one package for management of equity, fixed income and FX strategies across 65 countries globally.
Bloomberg, the leading market data provider to the hedge fund industry, now allows fund managers simplified oversight of strategy management, risk and compliance, STP trade settlement, portfolio analysis, order management and electronic trading via HBOX.
Users of HBOX can also accesso access BBloomberg's global, multi-asset, broker-neutral execution management system (EMSX) platform, as well as Bloomberg Tradebook, Bloomberg's agency broker. HBOX connects to all major prime brokers and fund administrators, provides compliance and audit reporting, pre-integrated data and execution tools and real-time P&L and exposures.
"We chose Bloomberg's HBOX model for a few reasons, but what we really liked was that we had access to the many OMS features included with HBOX through the Bloomberg terminal so there is no need to install new hardware or software," Marc Robert, Chief Operating Officer of Water Asset Management.