The broker strategy functionality is based on taking standard FIXatdl files from brokers and directly rendering the relevant strategies on to the order ticket in SimCorp Dimension.
Eliminating the need of any kind of software update, the direct use of FIXatdl enables new or updated strategies from brokers to be made available to traders quickly and easily.
Nordea Investment Management trading global head Per Møller said that placing trades through FIX to execute broker algos directly from the SimCorp Dimension Order Manager is quick and easy.
"Our traders can effectively execute increasing volumes this way, leaving them more time to work illiquid or special stocks," Møller added.
A complete audit trail of orders and associated strategy usage is retained, for the creation of orders as well as incorporation of strategies within SimCorp Dimension.
Further, it also saves strategy names related to the transactions so that the information can be used in post-trade transaction cost analysis and other middle and back office related processes.
The brokers currently live with Nordea Investment Management are BofA Merrill Lynch, Barclays, Deutsche Bank, Goldman Sachs, JP Morgan, Knight Capital, Morgan Stanley, Sanford Bernstein, and UBS.
SimCorp offers investment and portfolio management software and services to investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers.
