Dresdner Kleinwort Wasserstein (DKW) has extended the range of services that its prime brokerage platform offers to hedge fund clients with the launch of the Macro Prime Brokerage Platform. The system can now support funds’ trading activities in fixed income, FX and listed derivative products – including options, CFDs and total return swaps – as well as standard equity activities. Three macro funds have already signed on for the system, including Arsago, Abraxus and Colchester, with a number more in the pipeline.
“This has been in beta testing for about nine months, during which time we have added more products and introduced the three funds,” says Paul Dackombe, a director, sales and marketing, for DKW prime brokerage. “The system is not just attracting the interest of macro funds, we are also seeing a lot of interest from the credit arbitrage and fixed income funds and others who trade across asset classes.”
Separately, the bank has sold its Operational Risk Tools Suite (Ortos) to Capco. The bank will remain a customer of the re-christened Capco Ortos system. Ortos enables organisations to fulfil Basel II risk requirements for identification, collection and evaluation of operational risk in financial institutions. Modules can also be customised to satisfy sections of the US Sarbanes Oxley Act, Capco says.