London, June 20, 2013 – Euclid Opportunities and ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, today announce a strategic investment in Enso Financial Management LLP (EFM) an early-stage firm providing hedge funds and asset managers with innovative portfolio reporting and data analytics services.
Based in New York, EFM reports on more than $100 billion in global assets under management. The company will use the funding to drive continued product innovation and expand geographically to support its growing client base. Demand for services has increased significantly as buy side firms using multiple prime brokers, custodians and swap dealers increasingly require flexible reporting and analytics platforms.
“EFM have clearly demonstrated their advanced portfolio analytics deliver the transparency and operational insight increasingly required by buy side participants,” said Mark Beeston, CEO of Portfolio Risk Services at ICAP. “EFM’s technology is a strong fit for ICAP and will complement our suite of services to help our customers drive the efficiencies demanded in today’s trading environment.”
EFM is an elegant solution to a complex problem. While clients are diversifying their risks and strategy opportunities with multiple counterparties, we empower them with daily, profitable information. said Matthew Bernard, partner at EFM. We provide a competitive advantage through data aggregation and powerful analytics.
EFM is a secure, instructive platform for buyside analytics. It gives hedge funds and asset managers a backdrop for radically improved daily fund performance based on valuable, actionable insights that might otherwise remain hidden. Even under constrained market and regulatory conditions, EFM helps fund managers act intelligently to identify and overcome barriers to higher returns, mitigate counterparty risk and generate real and lasting alpha.
ICAP has a strong track record in investing in and developing businesses, particularly those that enable its customers to reduce costs and risk, said Michael Gentile, EFM partner. Our mutual recognition that investors can benefit from improved transparency, speed of execution and a more streamlined trading process makes this strategic alliance an important step for EFM as we grow our blue-chip clientele. We will benefit from working with ICAP improving further our technology development and operational efficiencies.
Steve Gibson, Managing Director of Euclid Opportunities, will join the Board of EFM.
Reporting on more than $100 billion in global AUM, New York-based EFM (ENSO Financial Management LLP) has developed a suite of seamless, intuitive tools that put multi-prime hedge funds and asset managers in a better position to monitor both structural and variable costs while simultaneously strengthening the broker relationships that truly impact success. Recognizing the need for reliable, independent and trusted data-driven tools to enhance transparency, evaluate risk and guide transactional efficiency, EFM is dedicated to helping its clients become more successful and competitive investors. More information can be found at www.efmactive.com.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.
About Euclid Opportunities
Euclid Opportunities offers a funding program to early-stage companies that provide innovative technology to the financial markets. Euclid Opportunities is majority owned by ICAP plc, and forms part of the post trade division of ICAP, which also comprises TriOptima, Traiana, Rematch, Reset and ICAP Information Services. ICAP is the world’s leading voice and electronic interdealer broker and provider of post trade risk and information services. For further information please visit www.euclidopportunities.com