SS&C Announces 2H2024 Updates for Alternatives SaaS Offerings

Rhea-AI Summary

SS&C Technologies (Nasdaq: SSNC) has announced significant updates to its alternative investment management SaaS platforms for 2H2024. The release includes enhancements to Geneva, OEMS, and Eclipse platforms. Key improvements include new credit and derivatives functionality, a Loan Servicing Workspace, and an Investor Fee Builder in Geneva.

Eclipse updates feature expanded fixed income trading capabilities, enhanced asset class coverage, and improved trading workflows. The OEMS platform received upgrades in multi-asset and fixed-income support, automated trading, and modeling capabilities. Notable additions include enhanced trade matching, improved FX swaps support, and automated trading rules for fixed income orders.

Positive

• Introduction of new Loan Servicing Workspace improving operational efficiency
• Enhanced trading capabilities with expanded fixed income platform connectivity
• Implementation of automated trading rules for fixed income orders
• Improved system performance through BIS Reuse and Geneva's REST API enhancements

Negative

• None.

Insights

Technology Analyst

The latest SaaS updates from SS&C represent strategic enhancements to their core financial technology infrastructure, particularly in the alternatives investment space. The Geneva platform's new Loan Servicing Workspace and Investor Fee Builder address critical operational needs in credit management and fee calculations - essential functions for alternative investment managers handling complex financial instruments.

The technical improvements in swap financing, PIK schedules and API performance demonstrate SS&C's focus on automation and scalability. The Eclipse platform's expanded fixed income capabilities and integration with major trading platforms like Tradeweb and Bloomberg strengthen SS&C's competitive position in the institutional trading technology market. For simpler understanding: imagine upgrading from a basic calculator to a sophisticated computing system that can handle complex financial calculations automatically.

These updates primarily target operational efficiency and risk management, important aspects for financial institutions managing alternative investments. The enhanced multi-asset support and automated trading features position SS&C to capture more market share in the growing alternatives sector, which could positively impact recurring revenue streams.

Market Research Analyst

This product update strengthens SS&C's market position in the $200+ billion fintech solutions market. The enhanced fixed income trading capabilities and expanded asset class coverage directly address the growing demand for sophisticated trading tools in the alternatives space, where assets under management continue to expand rapidly.

The improvements in automation and trading efficiency are particularly timely given the current market environment where speed and accuracy in trade execution are paramount. The integration with major platforms like Tradeweb and Bloomberg reinforces SS&C's ecosystem strategy, making their solutions more sticky for institutional clients. Think of it as building a digital Swiss Army knife for financial institutions - the more tools added, the more indispensable it becomes.

The focus on managed migrations and API improvements indicates SS&C's commitment to client retention and system scalability, critical factors for maintaining their competitive edge against emerging fintech players and established competitors like BlackRock's Aladdin platform.

WINDSOR, Conn., Dec. 26, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced new Saas releases covering alternative investment managers, including Geneva, OEMS, Eclipse, and other related platforms.

"As market leaders, we pride ourselves on our innovative spirit and dedication to collaborating with clients, providing purpose-built, scalable solutions. We tailor our releases to the global marketplace," said Karen Geiger, Co-General Manager of SS&C Wealth & Investment Technologies. "The recent advancements in our alternatives solutions illustrate our commitment to them to take full advantage of market opportunities."

SS&C Geneva®'s latest release introduces new enhancements in support of credit, derivatives, and legal entity and investor accounting. The functionality lets users efficiently manage loans and transactions in the new Loan Servicing Workspace. This release also includes the Investor Fee Builder, enabling clients to configure their fee terms and apply to different investors.

Other enhancements focus on:

• Swap Financing: The platform now supports Dual Basis Financing on swaps to calculate separate accruals off notional market value and notional cost.
• PIK: Clients can now apply separate PIK schedules and spreads on credit contracts paying at self-defined frequencies quarterly and monthly cash pay.
• Managed Migrations are introduced to provide Managed Services clients with a seamless upgrade experience.
• Closed-End Funds: enhancements around GP Location and Legal Entitles defined in different currencies
• System Performance: enhancements to BIS Reuse and Geneva's REST API

Eclipse released several new enhancements covering multi-asset class, front office, interoperability, and operations:

• Expanded Fixed Income trading: Connectivity to fixed income platforms, including Tradeweb and Bloomberg
• Asset Class: Expanded asset class coverage, including improved swap management and native support for MBS, ABS, and CDS
• Trading Workflows: Simplified workflows with the ability to merge parent orders directly from the blotter
• Speed to Market: The ability to route orders to the market faster with up to 20 quick-send buttons available in the blotter
• Eze Marketplace: An expanded menu of plug-and-play solutions to bolster the platform's capabilities in risk management, reporting, data analytics, trade surveillance, liquidity, and TCA

OEMS focused on multi-asset and fixed-income support, automated trading, trade synchronization, and modeling. Notable enhancements include:

• Multi-Asset OMS: A new enhanced trade matching blotter for fixed income and options, improved FX swaps support for allocation processing and enhanced interest rate swap trade management
• Fixed Income EMS: Users can now view the best execution details for unsolicited trades. Improved alerting for fixed income unsolicited fills from liquidity vendors and support for fractional pricing for bond futures limit orders in algo trading
• Automated Trading: Automated Trading rules for fixed income orders and updated Automated Trading routing approval message
• Modeling: Model by underlying exposure, dirty price, and delta-adjusted exposure

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about

SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C

FAQ

What are the key features in SS&C's Geneva platform 2H2024 update?

The Geneva platform update includes new Loan Servicing Workspace, Investor Fee Builder, Dual Basis Financing on swaps, and enhanced PIK scheduling capabilities.

How does SSNC's Eclipse platform enhancement improve trading capabilities?

Eclipse's enhancement includes expanded fixed income trading connectivity to Tradeweb and Bloomberg, improved swap management, native support for MBS/ABS/CDS, and faster order routing with up to 20 quick-send buttons.

What improvements were made to SS&C's OEMS platform in 2H2024?

OEMS improvements include enhanced trade matching for fixed income and options, improved FX swaps support, automated trading rules for fixed income orders, and enhanced interest rate swap trade management.

What new features does SSNC's Eze Marketplace offer in the latest update?

Eze Marketplace now offers expanded plug-and-play solutions for risk management, reporting, data analytics, trade surveillance, liquidity, and TCA.