Genesis Investment Management, a leader in emerging markets equities for institutional investors, has gone live with the new SimCorp Dimension front office suite. The new functionality supports the firm’s order construction, pre-trade compliance, dealing and order execution through both telephone and FIX and has significantly enhanced the efficiency of its front office operation.Originally, Genesis implemented SimCorp Dimension in 2007 to handle its dealing, compliance, settlement and accounting functions, replacing a number of systems including a proprietary order management system and an accounting package. As a seamless processing system, SimCorp Dimension has provided a backbone to Genesis’s investment management operation, significantly automating the process and increasing efficiency.
“It has allowed us to support the growth in assets under management and the volume of transactions, while reducing our operating costs,” explains Martyn Ryan, chief operating officer and partner in Genesis Investment Management. “Furthermore, because of the system’s compliance functionality, we have also been able to deal with an increasingly diverse range of clients and investment prescriptions so now support a much wider range of clients.”
In recent years, SimCorp has focussed significant development efforts on SimCorp Dimension’s front office capabilities and has greatly enhanced the usability and functionality of the system in this area. Adopting the new front office modules was a logical step for Genesis, says Ryan: “There have been significant improvements in this area of the system. It is more user-friendly, more intuitive and easier to understand. Our compliance team, for example, can look directly at individual rules and see how they are constructed much more easily. Everything for them is in plain English and uploading data is very straight forward so the risk of error is reduced. It is similar in the dealing area of the order management suite.”
Pre-trade compliance is worthy of particular note for Genesis. The process is now highly automated with minimum human intervention. This has increased the speed of the process and improved the accuracy. Combined with the better data management that is inherent in SimCorp Dimension, it has resulted in greater efficiency in the overall order management process, which in turn enables the dealing desk to devote more time to non-routine activities.
Genesis’s new front office went live in the fourth quarter of 2011 and the take off was very smooth without any disruption to the firm’s business. “It honestly couldn’t have gone better,” says Ryan.
Enquiries regarding the announcement should be addressed to:
John Mayr, SimCorp Ltd, +44 2072 60 1903/ +44 0788 751 8354.
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s world-class software provides global financial organisations with the tools they need to mitigate risk, reduce cost, and enable growth.
SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors.