IBOR

3RD GENERATION CASH AND POSITION MANAGEMENT SOFTWARE

At the heart of Limina IMS is a powerful Investment Book of Record (IBOR), one of only two solutions that adhere to the 2014 Global IBOR Standard. As former investment managers, we appreciate transparency. Hence, we back our statements with facts, so here is a template IBOR checklist with capabilities and a transparent comparison to Limina’s IBOR.

With multi-asset and live-extract capabilities, Limina’s IBOR empowers your investment team with complete and accurate portfolio views suitable for the wide range of use cases spanning the Front and Middle Office.

THE IBOR INDUSTRY STANDARDS

“While there are no solutions in the market today that fully deliver the vision outlined by the IBOR Standards Working Group, Limina's platform already satisfies many of the key requirements defined in the standard and offers live extract capabilities within a modern and impressive architecture. Limina are committed to extend their IBOR capabilities over time, and, to date, have delivered to their commitments.”

Ian HuntCo-author of the IBOR Standards Working Group paper

LEADING CAPABILITIES

POSITIONS AND CASH MANAGEMENT

A clear real-time portfolio view is of fundamental importance regardless of your investment strategy.

Specifically, without an accurate, forward-looking view of cash, firms may be forced to keep cash buffers to protect themselves against overdrafts.

In today’s reality of ever-increasing fee pressure, every basis point counts – so don’t lose out on valuable performance from not being able to be fully invested.

The Investment Book of Records also enables position and cash forecasting and simulations. The real-time position management capabilities are available out-of-the-box and, without reliance on batch processes or externally maintained Investment Book of Record solutions.

3rd Generation investment book of record, also called live-extract IBOR

KEY IBOR STANDARDS REQUIREMENT:

ALL TRANSACTION AND CASH STATES SUPPORTED IN ONE IBOR SOLUTION

Features enabled by the IBOR include optionality on what position state to view positions and cash: from pre-trade to allocated and matched trades. The multi-state IBOR makes the solution equally suited when simulating orders (including cash forecasting in real-time) and operations reconciling against accounting.

State concept of trades as they affect position through their lifecycle

A CONSOLIDATED IBOR PLATFORM TO ENABLE SCALABLE OPERATING MODELS

The Investment Book of Records (IBOR) concept was popularised a decade ago. Now, ten years later, the benefits of establishing an IBOR are clear:

Improved basis for decision-making
Operational efficiency
Improved governance and oversight
Avoidance of compliance issues from different teams looking at disjointed data sets
Golden data source to power other in-house or external solutions

Overcoming the historical challenges:

IBOR AS PART OF AN IMS

Despite these apparent benefits, we have seen two factors holding back the mass adoption of standalone IBORs:

Without combining an IBOR with functional capabilities, the business case is not as obvious, and hence, many have opted not to start projects in the first place
For many investment managers who have embarked on IBOR initiatives, it has proven difficult to reach the expected ROI due to implementations being complex, costly, and insufficiently integrated into the core workflows of the firm.

Limina Investment Manager Software addresses both challenges with its IBOR natively integrated into the core workflows of the Front and Middle Office operations. This integration is made possible through the platform being designed from the ground up as a service-based architecture with an IBOR at the heart that powers the workflows in trade order management, portfolio tracking, investment compliance monitoring and more, rather than these being separate products.

By having just one Front-to-Middle office solution, many common issues are eliminated, such as:

mapping of instrument definitions
reconciliation of quotes and valuation policies
expensive bespoke integrations

And for connectivity to other systems and service providers, Limina offer managed connections and a unique integration builder, that business users can use to set up new integrations in minutes. Follow the link for a video on how it works.

COMPLETE POSITION AND CASH TIME SERIES

SUPPORTING PERFORMANCE, RISK AND BUSINESS INTELLIGENCE SOLUTIONS

Limina’s position management system offers a consolidated source of real-time investment data, including bitemporal time-series data (“as at” and “as of”), with full audit and permission controls. Having both perspectives in the same solution makes Limina’s IBOR suitable as a golden source of portfolio data for investment managers, which can power other solutions such as reporting solutions.