Cloud-native software-as-a-service (SaaS) provider Enfusion has launched a new order and execution management system (OEMS) named Enfusion Express.
The new solution is tailored specifically to the needs of smaller fund managers with AUM typically less than $100 million.
Enfusion describes the new system as a means for smaller managers with limited recourses, but comprehensive requirements, to access sophisticated pre-trade, execution, and post-trade solutions.
In addition, Enfusion Express will help reduce manual processes, improve real-time, portfolio-level visibility, and streamline connectivity to managers’ execution, fund administration, prime brokerage and other partners.
As the size and complexity of these small funds grow, they can easily upgrade to Enfusion’s platform for enhanced OEMS capabilities, full portfolio management and accounting functions, analytics, and outsourced managed services.
“Enfusion Express addresses the operational needs of smaller funds, both newly launched and existing, that remain an underserved but growing segment of the market. Sell-side firms are recognizing and responding to their unique needs, as evidenced by an uptick in solutions like outsourced trading desks. We see an opportunity to provide best-in-class solutions to these managers as they look to scale their firms while deepening our relationships with our ecosystem partners,” said Thomas Kim, chief executive of Enfusion.
“As we continue our expansion into new market segments, Enfusion Express serves as a natural extension of our strategy. There are numerous countries with a significant concentration of smaller managers, and I see Enfusion Express ultimately accelerating our penetration into these markets.”
Enfusion Express is available through partners such as prime brokers, outsourced trading desks (OTDs), allocators and fund administrators who already serve the small fund manager segment.
Cowen is the first partner to offer its client base the solution and its coordination with Enfusion is designed to deliver an end-to-end solution that is efficient and results in an improved client experience and greater risk reduction.
“This partnership… is a natural fit with our prime brokerage and OTD businesses,” said Mike Rosen, co-head of prime brokerage and outsourced trading at Cowen.
“Our global clients can leverage Enfusion’s market-leading technology with full support from our front-to-back sales, technology, and operations teams.”
Connecticut-based hedge fund manager BroadArch Capital is the first client live on Enfusion Express. The new solution allows for real-time visibility into trade execution conducted by Cowen’s OTD on its behalf, as well as simplified order submission and allocation.
“We have a long history with Cowen as a client of their prime brokerage and outsourced trading desk and welcome this innovative and robust offering,” said Robert Reitzes, managing partner, portfolio manager and chief compliance officer at BroadArch Capital.
“Enfusion Express allows us to create orders quickly and monitor their status via dashboards which show P&L and portfolio exposure. It’s easy to add or unwind positions based on intra-day market events.”