Buy-Side Technology Awards 2013: Best Portfolio Accounting Platform—SimCorp

Will Carling, Gernot Schmidt and Victor Anderson

SimCorp marks its first win in the portfolio accounting platform category this year, an area that has traditionally been dominated by industry stalwarts, Advent and Multifonds. This year in particular marks a validation for Dimension, SimCorp’s flagship product, given the industry chatter around accounting and investment book of record (IBOR) technology. To understand Dimension, it’s important to start with comprehending how the system works. It is both the encompassing name for the product ecosystem and the backbone upon which it runs. Built on a single database, modular components allow for functionality in different areas, but the essential précis of the product is that it provides one, centralized source of positions and transactions across the business.

As with the numerous discussions around IBOR that are permeating the buy side at the moment, the argument for this is that it becomes markedly easier to perform basic investment operations such as exposure monitoring and stakeholder reporting, risk assessment and performance measurement from a single source, than trying to reconcile different views on what a firm’s current positions are between various departments that may have divergent perspectives. Having the one location addresses the operational risk inherent in possessing a number of different figures for the same query that don’t necessarily take into account all of the contributing and determining factors implied by that position. While most systems have to integrate a number of disparate feeds in order to achieve a single version of the “truth,” as it’s commonly called, Dimension does this by design.

Possessing what is, ultimately, an IBOR before it became the buy-side’s 2013 buzzword, puts SimCorp at the head of the portfolio accounting field, given that many other vendors are just now scrambling to adapt similar technologies to achieve the same levels of sophistication. But that isn’t the only thing that sets SimCorp apart—in addition to the Copenhagen-headquartered vendor’s technology, it also puts 20 percent of its revenues back into its research and development, while also guaranteeing at least two product updates per year. Indeed, over 400 developers work on Dimension, a remarkably high figure given the general levels of staff commitment and investment within the industry.

SimCorp Reaction:
“SimCorp is honored to receive this year’s award for best portfolio accounting solution, as this further validates our ability to deliver clarity, transparency and a streamlined investment management approach to buy-side firms. SimCorp Dimension’s portfolio accounting solution has been an agent of change and innovation for buy-side firms across the globe that continue to give SimCorp Dimension their votes of confidence and trust the system to manage complex trading strategies, provide a single source of accurate position data, and ultimately boost performance and drive portfolio growth. We are always happy to see industry experts recognize this as well.”
—Klaus Holse, CEO, SimCorp

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