More Than 100 Sell- & Buy-Side Clients Cement youDevise's ``TIM'' as the Leading Independent ``Alpha Capture System'' for Access
October 09 2006 - 6:20AM
Business Wire
youDevise Limited, a leading provider of on-demand portfolio
workstations for financial markets, today announced highly positive
industry response to the roll-out of its Trade Idea Monitor,
solidifying the TIM�s role as the leading independent �alpha
capture system� for sell- and buy-side access to the Repository
& Distribution Centre (RDC) industry utility after its public
launch less than a year ago. The TIM now has in excess of 2,000
users at more than 100 buy- and sell-side firms, primarily in
London, New York City and Tokyo, attracted by the TIM�s ability to
deliver features and benefits similar to those popularized by the
proprietary Trade Optimised Portfolio System (TOPS) used by
renowned UK hedge fund Marshall Wace, and by the continued addition
of value-added features and integration with third party data
sources. Earlier today, Trade Ideas Limited (TIL), the organization
jointly established by a consortium of four of the largest
brokerage firms (Citigroup, Credit Suisse, Dresdner Kleinwort and
Merrill Lynch) to own and operate the RDC, announced that more than
50 brokerage firms -- including all 10 of the major investment
banks involved in early discussions on the creation of the TIL --
have begun to route ideas to buy-side clients via the RDC, and that
the overall user base of contributors now numbers in the thousands.
�The twin driving forces behind this growth are the continual
pursuit for Alpha among proprietary trading desks and buy-side
managers, combined with their need to comply with new unbundling
regulations governing the allocation of trading commissions between
execution, and research, or soft dollars,� said Colin Berthoud,
Director of youDevise. Trade ideas put investment research into
action. Typically authored by institutional brokers, trade ideas
not only identify and recommend the purchase or sale of a
particular stock, but also at what price and point in time, as well
as how much money the broker suggests fund managers commit to the
stock, thereby weighting the idea. The TIM enables trade ideas to
be developed and transmitted electronically and in a structured
format, so recipients, including hedge funds, institutional
managers and proprietary trading desks, can use the TIM�s powerful
analytical tools and integrated features to identify the best
performing ideas and the brokers who authored them. Prior to the
TIM, trade ideas were typically communicated ad hoc via phone or
email, or sent through proprietary in-house systems, such as TOPS,
which were not linked to the RDC. �The first wave of TIM users were
driven primarily by sell-side proprietary trading desks,� said Mr.
Berthoud. �Speed in receiving ideas and time-stamped, audited
transmission were key factors to these customers. The second wave
was hedge funds. Developing value, better idea management, and more
scientific awarding of research commissions was the motivation
there. Seeking similar benefits is a third wave of more traditional
money managers, who are now specifically requesting that sell-side
brokers send ideas via the TIM according to their specific rules,
and allocating commission based on performance.� Approaching the
one-year anniversary of the product�s launch last fall, youDevise�s
continued enhancements have evolved the TIM into a powerful
web-based trade idea portfolio workstation: Themed Portfolios �
Enables sell-side firms to send ideas based around a specific
central investment strategy and organized under a branded name.
News � Through an alliance with The Relegence Corporation, the TIM
now offers real-time news and information on a particular stock, in
a format that helps users swiftly take advantage of trading
opportunities. Home Page Dashboard � Provides sell-side managers
with a real-time display of the number and types of ideas all their
sales and research teams are sending clients. Idea Control �
Empowers clients with the ability to set the number, investment
amount, and type of ideas that can be sent to them by a specific
sell-side firm. Report on Author Performance � Generates a detailed
analysis of an individual broker�s ideas, including win probability
and expected returns. Research � Links with products such as
Reuters� 3000 Xtra to give users the ability to drive queries
directly from the trade ideas on research, news, and other data�
and even to populate an order blotter. Third party reviews of the
TIM have been favorable. In June 2006, the core technology at work
in the TIM was named �Innovation of the Year� in The Banker
magazine�s annual Technology Awards. In July 2006, an article in
The Journal of Investment Compliance cited the TIM as a good
example of how relatively low-cost trade idea management systems
can be put to work �capturing lost value and generating increases
in productivity for all involved.� Last week, the Financial
Services Authority in the UK issued its first official comment on
Alpha Capture Systems, noting the growing trend of sell and buy
side firms using such systems, praising their clear audit trails,
and listing a series of good practices. About youDevise Limited
youDevise Limited (www.youDevise.com), based in London, provides
on-demand portfolio workstations for financial markets. The
company�s leading applications provide portfolio management for
liquid and illiquid assets. They include the Trade Idea Monitor
(the TIM), for the high-speed communication of equity trade ideas
and portfolio ideas between institutional brokers and their money
manager and hedge fund clients, and the Hedge Fund Information
Provider (the HIP), the first commercially available portfolio
management system for funds of hedge funds. All youDevise�
applications leverage its proprietary Information Distribution
Server (IDS), which facilitates the exchange of data between
different market participants. youDevise Limited, a leading
provider of on-demand portfolio workstations for financial markets,
today announced highly positive industry response to the roll-out
of its Trade Idea Monitor, solidifying the TIM's role as the
leading independent "alpha capture system" for sell- and buy-side
access to the Repository & Distribution Centre (RDC) industry
utility after its public launch less than a year ago. The TIM now
has in excess of 2,000 users at more than 100 buy- and sell-side
firms, primarily in London, New York City and Tokyo, attracted by
the TIM's ability to deliver features and benefits similar to those
popularized by the proprietary Trade Optimised Portfolio System
(TOPS) used by renowned UK hedge fund Marshall Wace, and by the
continued addition of value-added features and integration with
third party data sources. Earlier today, Trade Ideas Limited (TIL),
the organization jointly established by a consortium of four of the
largest brokerage firms (Citigroup, Credit Suisse, Dresdner
Kleinwort and Merrill Lynch) to own and operate the RDC, announced
that more than 50 brokerage firms -- including all 10 of the major
investment banks involved in early discussions on the creation of
the TIL -- have begun to route ideas to buy-side clients via the
RDC, and that the overall user base of contributors now numbers in
the thousands. "The twin driving forces behind this growth are the
continual pursuit for Alpha among proprietary trading desks and
buy-side managers, combined with their need to comply with new
unbundling regulations governing the allocation of trading
commissions between execution, and research, or soft dollars," said
Colin Berthoud, Director of youDevise. Trade ideas put investment
research into action. Typically authored by institutional brokers,
trade ideas not only identify and recommend the purchase or sale of
a particular stock, but also at what price and point in time, as
well as how much money the broker suggests fund managers commit to
the stock, thereby weighting the idea. The TIM enables trade ideas
to be developed and transmitted electronically and in a structured
format, so recipients, including hedge funds, institutional
managers and proprietary trading desks, can use the TIM's powerful
analytical tools and integrated features to identify the best
performing ideas and the brokers who authored them. Prior to the
TIM, trade ideas were typically communicated ad hoc via phone or
email, or sent through proprietary in-house systems, such as TOPS,
which were not linked to the RDC. "The first wave of TIM users were
driven primarily by sell-side proprietary trading desks," said Mr.
Berthoud. "Speed in receiving ideas and time-stamped, audited
transmission were key factors to these customers. The second wave
was hedge funds. Developing value, better idea management, and more
scientific awarding of research commissions was the motivation
there. Seeking similar benefits is a third wave of more traditional
money managers, who are now specifically requesting that sell-side
brokers send ideas via the TIM according to their specific rules,
and allocating commission based on performance." Approaching the
one-year anniversary of the product's launch last fall, youDevise's
continued enhancements have evolved the TIM into a powerful
web-based trade idea portfolio workstation: -- Themed Portfolios -
Enables sell-side firms to send ideas based around a specific
central investment strategy and organized under a branded name. --
News - Through an alliance with The Relegence Corporation, the TIM
now offers real-time news and information on a particular stock, in
a format that helps users swiftly take advantage of trading
opportunities. -- Home Page Dashboard - Provides sell-side managers
with a real-time display of the number and types of ideas all their
sales and research teams are sending clients. -- Idea Control -
Empowers clients with the ability to set the number, investment
amount, and type of ideas that can be sent to them by a specific
sell-side firm. -- Report on Author Performance - Generates a
detailed analysis of an individual broker's ideas, including win
probability and expected returns. -- Research - Links with products
such as Reuters' 3000 Xtra to give users the ability to drive
queries directly from the trade ideas on research, news, and other
data- and even to populate an order blotter. Third party reviews of
the TIM have been favorable. In June 2006, the core technology at
work in the TIM was named "Innovation of the Year" in The Banker
magazine's annual Technology Awards. In July 2006, an article in
The Journal of Investment Compliance cited the TIM as a good
example of how relatively low-cost trade idea management systems
can be put to work "capturing lost value and generating increases
in productivity for all involved." Last week, the Financial
Services Authority in the UK issued its first official comment on
Alpha Capture Systems, noting the growing trend of sell and buy
side firms using such systems, praising their clear audit trails,
and listing a series of good practices. About youDevise Limited
youDevise Limited (www.youDevise.com), based in London, provides
on-demand portfolio workstations for financial markets. The
company's leading applications provide portfolio management for
liquid and illiquid assets. They include the Trade Idea Monitor
(the TIM), for the high-speed communication of equity trade ideas
and portfolio ideas between institutional brokers and their money
manager and hedge fund clients, and the Hedge Fund Information
Provider (the HIP), the first commercially available portfolio
management system for funds of hedge funds. All youDevise'
applications leverage its proprietary Information Distribution
Server (IDS), which facilitates the exchange of data between
different market participants.