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​BlueCove Limited selects OPUS by Germany based PATRONAS Financial Systems GmbH as central portfolio & order management, compliance management and order routing solution.


Freiburg, Germany, January 2019


PATRONAS Financial Systems (“PATRONAS”), a Freiburg-based leading provider of multi asset portfolio and order management solutions for the international investment industry, today announced that BlueCove Limited (“BlueCove”), a new London based scientific fixed income asset management firm founded in 2018 by Hugh Willis, Executive Chairman, and Alex Khein, CEO, have signed an agreement for a fully managed installation of PATRONAS’s flagship integrated portfolio and compliance management solution OPUS.


OPUS is a modular and fully integratable solution for portfolio and order management, including sophisticated compliance as well as fully integrated multi-protocol messaging technology, that will enable BlueCove to run the most advanced portfolio modelling, simulation and compliance processes and route orders fully electronically to any execution venue required.


Nick Pierce, Head of Investment Process, BlueCove said: “Industry leading, pre and post, compliance in a regulated environment, such as UCITS and AIF, and FIX connectivity to multiple trading venues are essential components of any modern investment management firm. The PATRONAS OPUS system combines many years of experience designing compliance rules with FIX connectivity and portfolio management capability. The open and modular nature of the system allows for highly automated workflows, via API integration, as well as customisable user functionality and extensions via microservices. Regulatory change is inevitable and the PATRONAS OPUS system can evolve as the operating environment and our business adapts to provide scientific fixed income products for clients”.


Ian Howard, Head of Engineering, BlueCove, said: “Being free from the constraints of legacy architecture, we are creating strategically modern solutions for clients rather than focusing on tactical improvements to legacy operations. The OPUS open architecture and rich API allows easy integration with solutions we are building in-house, and with external counterparties and other third parties”.

“We are very happy that BlueCove have chosen to install and benefit from our OPUS Portfolio and Order Management, Compliance Management and Order Routing solutions. OPUS has been designed to help our customers to cope with the ever-changing requirements for regulatory compliant portfolio and risk management, as well as effective and fully integrated order management and routing”, said Carsten Osswald, Founder and CEO of PATRONAS Financial Systems. “PATRONAS’s commitment and ability to respond quickly to regulatory changes and to the needs of our customers have provided us with distinct advantages and we are confident that OPUS will add value to BlueCove’s proposition in the market for high quality fixed income investment. We look very much forward to working with BlueCove in future”.

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