A full-featured, highly-flexible Order, E-Trading and Position Management system (OMS/PMS), that meets the specific requirements of a Multi-Strategy, Multi-Prime Hedge Funds and includes superior coverage for alternative asset workflows

Spark Feature Comparison

A full-featured, highly-flexible Order, E-Trading and Position Management system (OMS/PMS), that meets the specific requirements of a Multi-Strategy, Multi-Prime Hedge Funds and includes superior coverage for alternative asset workflows

Spark Feature Comparison

E

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.
E

Order Generation

  • 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.
E

Risk (Optional)

  • 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.
E

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.
E

Order Generation

  • 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.
E

Risk (Optional)

  • 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.
E

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.
E

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.
E

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.
E

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.
E

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 (Optional)

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

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 (Optional)

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

Compliance and Surveilleance (Optional)

  • 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.
E

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.
E

Compliance and Surveilleance (Optional)

  • 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.
E

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.
E

Accounting (Optional)

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.
E

Accounting (Optional)

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.
E

Technology

  • 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.
E

Technology

  • 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.

Spark Lite

An entry-level Order, E-Trading, P&L and Position Management System (OMS/PMS), that can be branded by prime brokers, administrators, outsourced trading desks, etc and distributed to their clients as a value-added service

Spark Hedge

A full-featured, highly-flexible Order, E-Trading and Position Management system (OMS/PMS), that meets the specific requirements of a Multi-Strategy, Multi-Prime Hedge Funds and includes superior coverage for alternative asset workflows

Spark Institutional

A unified platform that integrates Model Management, Rebalancing, Order Management, E-Trading, Compliance, Fund and Investor Accounting and Client Communication and includes comprehensive SMA workflow automation

Spark Enterprise

Defines a new category in FinTech. A real-time platform that allows large, multi-entity firms like Brokers, Banks and Managers to monitor exposures, P&L, risk, margin, analytics, netting, etc. across the entire enterprise

Spark Lite

An entry-level Order, E-Trading, P&L and Position Management System (OMS/PMS), that can be branded by prime brokers, administrators, outsourced trading desks, etc and distributed to their clients as a value-added service

Spark Hedge

A full-featured, highly-flexible Order, E-Trading and Position Management system (OMS/PMS), that meets the specific requirements of a Multi-Strategy, Multi-Prime Hedge Funds and includes superior coverage for alternative asset workflows

Spark Institutional

A unified platform that integrates Model Management, Rebalancing, Order Management, E-Trading, Compliance, Fund and Investor Accounting and Client Communication and includes comprehensive SMA workflow automation

Spark Enterprise

Defines a new category in FinTech. A real-time platform that allows large, multi-entity firms like Brokers, Banks and Managers to monitor exposures, P&L, risk, margin, analytics, netting, etc. across the entire enterprise