Managing your entire investment process

Spark is a highly versatile OMS/PMS, Compliance, and Accounting System tailored to your firm's specific needs

Spark

A unified platform that integrates:

Model Management
Rebalancing
Order Management
E-Trading
Compliance
Fund and Investor Accounting and Client Communication
SMA workflow automation

Crystal Clear Portfolio Insights

Quickly see your portfolios’ sources of risk, return and over/under weights at any level, by any cut. Flexible workspace allows you to quickly and accurately see what’s important to your investment style and for your asset classes.

Understand your Alpha

Performance Analytics decompose and compare your performance internally or externally using sophisticated and customizable contribution and attribution analysis.

Fast and Robust Order Generation

Create simple orders in two clicks, or accurately generate complex rebalances for thousands of accounts in seconds.

Effortless Execution

Electronically trade, error free, with over a thousand Brokers, DMAs, ECNs & ATSs with no per-transaction fees. Save time with automatic short-locate/borrow, commission tracking, and soft dollar budgeting.

Zero Compliance Breaks

Best-in-class pre/post trade compliance ensures breach free rebalances, positions and trades.

Guaranteed Accurate Positions

Ensure position and transaction accuracy with seamless electronic connections and automated reconciliations to custodians, prime brokers, ISDA counterparties, administrators, and banks.

Integrated Fund and Investor Accounting

Maintain the overview of your financial position, so you can help your clients with everything from balances and income statements to Real time NAV calculations.

Fully-Hosted with Security Master and Pricing Data Included

Spark can be hosted in one of our 10 global data centers, in public clouds (such as Microsoft Azure), or by clients within their firewalls. The Spark data centers are consistently ranked number one for cyber-security, data-protection, and business continuity.
Spark can optionally provide security master, pricing and corporate actions data on all listed securities, currencies, options, CFDs, etc.

Portfolio Management

Real-Time positions, prices and analytics.
Calculated market values, exposures, and other derived values (based on market prices).
Reconciled quantities vs. prime brokers, administrators or custodians.
Interactive pivoting/subtotaling at summary, detail and lot level holdings.
Gross, net and greek adjusted weights.
User calculations to enable proprietary valuation and risk models.
Include local data in views (from spreadsheets, files or databases) with just a few clicks.
Build and save custom views in minutes.
View onscreen, web & PDFs.

Complex Rules-Based Order Generation & SMA Rebalancing

Orders quickly generated by target quantity or target weight.
Account rebalancing to itself or to a benchmark/model.
Gross-up/down of the portfolio or a specified segment.
Comprehensive pre-trade compliance.
“What-If” analysis of the impact of proposed trades on exposures, compliance and risk.

Risk

Scenario analysis/stress testing with shifting of the underlying benchmark/index, volatility, or currency.
Extensive set of liquidity risk measurements and alerts.
Value-at-Risk VaR calculations with support for several different models including user tunable Monte Carlo and historical.
User tunable Cox Ross Rubenstein options pricing model.
Fund and firm level capitalization/margin stress testing.
Historical/time-series.
Warnings/alerts flexible alerts engine can be configured to, depending on the severity, simply show warnings on-screen, highlight problems in an end of day report, or send a priority email to the investment committee or investors.

Order Management

FIX based electronic trading with over a thousand Brokers, DMAs, ECNs, ATSs and STP networks.
No per-transaction or cross-connect fees.
Connection to all Execution Management Systems.
Electronic trade files to custodians, prime brokers, ISDA counterparties, administrators and banks.
Flexible and powerful allocations to quickly allocate trades across several or thousands of accounts.
Automatic short-locate and borrow.
Pre-trade compliance.
Commission tracking.
Soft dollar budgeting.
Global ownership filing alerts (long and short) and takeover panels.
Equities, options, futures, fixed income, FX, swaps, structured.

Performance

Performance attribution/contribution analysis by any standard “cut” of the portfolio (security type, country, industry, etc.), or by any method of internal tracking (strategy, sub- strategy, analyst, trade idea, etc.).
Decomposition of returns by realized, unrealized, security, FX, dividend, interest, internal/external expenses, etc.
Support for one or more public or custom blended benchmarks for performance attribution and comparisons.
Tick-by-Tick fully loaded P&L.
Full portfolio history maintenance for historical analysis or comparisons.

Assets

Equity

Listed equities.
Private equities.
Warrants/rights.
Listed and OTC equity options.
CFDs/equity swaps/P-Notes.
ADR/GDRs.

FX

Spot FX.
FX Forwards (deliverable and NDF).
FX Options (vanilla and some exotics).

Other

Structured.
Spreads.

Futures/Commodities

Financials.
Metals.
Energy.
Agricultural.
Other.

Private Equity

Venture Capital.
LBO.
Distressed/Mezzanine.
Real Estate.
Physical Assets.
Other.

FI, Cash and Equivalents

Cash.
Treasury bills.
Sovereigns.
Corporates.
Municipals.
Discount notes.
Commercial paper.
Bank loans.
OTC options.
FRAs.
IRS.
CDS.

Compliance and Surveillance

Pre/post trade compliance.
UCITS, 40 Act, FSA, MiFIDII, etc.
Risk (VaR, scenario and liquidity).
Performance analysis.
Global ownership filing alerts.
Web and mobile reports.
Alert recalculation/reevaluation according to every new market tick to ensure full and consistent compliance.
Alert notification customization according to alert severity (screen, email, mobile, etc.).
Alerts customization option to be built upon user calculations to enable surveillance of proprietary valuation and risk models
Equities, options, futures, fixed income, FX, swaps, structured, true multi-currency.

Operations

Security master provided for most global listed securities (no more security setup!).
Data and automation for corporate actions processing.
Automated exercises, assignment and expirations.
NDF fixing.
Equities, options, futures, Fixed Income, FX, swaps, structured.
End of Day electronic trade files to custodians, prime brokers, ISDA counterparties, administrators and banks.
Automated reconciliation of positions, cash and transactions.
Comprehensive data integrity reports.

Accounting

General Ledger for Fund Accounting

Balance sheet/statement of financial position.
Trial balance.
Income statement.
Statement of cash flows.
Profit & Loss.
Income, expenses and fees.
Receivable/payables.
Subscriptions and redemptions.
Accruals and amortizations.
Real-Time NAV calculation.
Daily NAV within minutes of the close.
Tax Lot management with a host of tax lot reporting as well as custom tax lot disposition providing full control of over the tracking and liquidation tax lots.
Equities, options, futures, fixed income, FX, swaps, structured.

Investor Accounting

Subscription and redemption management.
High water mark performance fee calculation.
Support for multiple levels of fund share classes and fee levels at both the entry level as well as the subscription and redemption level via Share Class Management Spark Support.
Specifically tailored end of day/month reports for each investor.

Budgets and Forecasting

Real-Time OCC margin prediction (TIMS).
Excess margin prediction.
Cash reporting render cash reports and statements on a current and n+ day projection from expected inflows and outflows.

Data Management

Automated reconciliation break reports.
Data integrity reports.
Automated reconciliations seamless electronic interfaces to custodians, prime brokers, ISDA counterparties, administrators and banks.

Technology

Deployable on all Public Clouds, the Athena Private Cloud, or on Client Infrastructure
Primary and disaster recovery hosted in our five certified global data centers.
World class disaster recovery and business continuity protocols.
Top Tier cyber security protection.
Athena Content can be accessed from:

Our Spark desktop client.
Web reports.
Excel Add-In.
APIs.
SQL.

Real-Time market data feed handlers for:

Bloomberg.
Factset.
Reuters.
Neovest.
Any “RDP” feed.

Automated file exchange already running and certified for:

Most prime brokers.
Most administrators.
Most custodians.

Matching your workflow is our primary consideration. Athena Systems is always willing to adapt our platform to meet the specific needs of your team.

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