GE Asset Management has licensed solutions from Boston-based LatentZero to manage and support$125 billion in fixed-income assets. The buy-side firm will implement LatentZero's Tesseract for its fixed-income portfolio management, Minerva to trading, and Sentinel for compliance. The solutions will support both domestic and international fixed-income securities in GE Asset Management's insurance and total rate-of-return lines of business.
The implementation of the solutions has already begun, and will be rolled out to GE Asset Management's trading operations in both the United States and United Kingdom.
IBM has teamed up with Mantas, a Fairfax, Va.-based solutions provider, to fight mutual-fund trading abuses such as late trading, market timing, self dealing and breakpoint violations. The collaborative technology and services solution will analyze trading scenarios and behavior patterns. If suspicious activity is flagged, the solution would alert the designated risk or compliance officer to take action.
The two companies are also combining forces to address regulations around anti-money laundering, fraud detection, trading compliance and broker surveillance.
Trade-order-management-technology vendor Eze Castle Software, has bought the Commission Optimizer software product from the Bank of New York's subsidiary, BNY Brokerage. BNY Brokerage will send its product-support team to Boston-based Eze Castle for client transition.
In addition, Eze Castle has agreed to make BNY Brokerage a preferred broker for commission-management services.
The Commission Optimizer is a tool used by investment managers, directors of trading, market-data services and brokerage coordinators for commission budgeting and expense management. The tool plans, monitors and reports on fund expenses.