Fund / Trade Order Manager Application

Order Manager Trading Application

Fund Order Manager Overview

Fund Order ManagerOur Fund Order Manager can easily generate single, allocated, and block orders based on an assortment of different classifications. For example, orders can be based on

  • Target Exposure
  • Target % of NAV
  • % of Current Position
  • % of Benchmarks

Trade Order ManagerThis capability allows investment ideas to be quickly entered and sent to market. Users can specify price limits, expiry, and if supported by the broker, algorithmic trading and ‘Care Of and On Behalf Of’ orders. All order details including book or strategy can be entered at this point, preventing double-keying when the order is converted into a trade. Further, orders can be entered individually or in a block.

Pre/Post-Trade Compliance

Orders generated within Order Manager can be checked against predefined compliance rules using the latest information available. These pre-trade compliance rules can also be set as post-trade compliance rules.

Further, Arbor can run a post-trade compliance management engine in the background against static or real time market data, and when rules are breached, users can be warned via e-mail or an on-screen alert. (More details can be found in Compliance Rules)

Trade Allocation Rules

Our Trade Order Manager also allows for the addition of user defined trade allocation rules. The user defines the rule name and description, links the rule to specific accounts or brokers, and determines what the allocation is to be based on (%, % NAV or % GAV).

There is an additional feature that allows the user to determine what to do if an allocation ends with an unequal quantity spread. The user can select to have the leftover quantities randomly placed into the fund, or the leftover quantities can be placed according to the user’s pre-determined choosing.

Allocation Order ManagerManual Orders

OM can still be used effectively with users who are not connected to the FIX network, as orders can be entered and filled manually. This allows users to still take advantage of pre-trade compliance rules. Orders processed this way are subject to all the same logging so that investors can see the full life-cycle of the order. Once the order is filled, users enter the quantity and price and it is processed directly into a trade for reporting and clearing.

Fund Approval

OM can also be configured to allow users a “4 eyes” approval stage. Different entitlement levels can be set at the user level to both set up/manage compliance rules and give the ability to approve orders. Users can also have entitlements to approve their own orders or to only approve other users’ orders.

Trading Order ManagerProposed Position Reporting

Our Trade Order Manager allows users the ability to quickly see a ‘proposed portfolio,’ where the proposed orders are filled and cash positions are adjusted. Users can submit orders to the proposed portfolio (without sending to market) to allow visualisation of a proposed order or strategy. Connected to third party market data, the proposed portfolio will show real time P&L, allowing the real portfolio to be easily compared against the proposed portfolio.

Trading Order Processing

Proposed orders are highlighted in grey. From here, the order(s) can simply be approved and sent to market. Each step in the order lifecycle is logged directly inside the order. OM stores times, user IDs, compliance management status, approval status and previous versions of the order. Individual fill prices, quantites and times are also stored, allowing OM to calculate the average price and time to complete the order.

For illiquid orders, users can easily allocate the order at any time, creating a trade from the filled quantity to report for clearing while simultaneously creating a new order with the remaining quantity. This reduces having to repeatedly enter the same information.

Order Filling RoutingPortfolio Rebalancing

Because our Fund Order Manager is directly linked to the Portfolio Management System, users can quickly and easily rebalance their portfolios based on cash inflows and outflows. From the Portfolio Rebalancing page, users can choose to rebalance their exposure exactly or chose to exclude certain lines and redistribute the cash flow over the remaining balance. (More details can be found in Portfolio Rebalancing). 

Rebalancing Fund SoftwareFor further information on our Fund Order Manager, please view our short Order Management System intro video.

  • Testimonial

    When we went looking for a Portfolio Management System that could handle the operational requirements of a prime broker, we wanted a partner rather than simply a software system. Arbor can not only provide a system that meets all of the standard requirements at a competitive cost, it can also provide a built-in “consultancy” where the principals have over 25 years experience within the operations of a leading, global prime brokerage. This “consultancy” is what differentiates Arbor from the others and allows us to deliver a customer friendly system to our clients on a cost efficient basis.

    Sean Fitzgerald, AKJ