Waters Rankings 2014: Best Reporting System Provider — Eze Software Group

R.G. Manalac and Dwight Gooden

There is little doubt that since the global financial crisis of 2008, capital markets firms, both on the sell side and the buy side, have been scrutinizing their vendor relationships, not only with the view to consolidating functionality and minimizing duplication, but also to reduce the sheer number and complexity of technology relationships to a more manageable number. Those third-party technology vendors able to offer fully integrated, true front-to-back-office platforms, but also allow their components to be implemented discretely on a best-of-breed basis, have reaped significant rewards, and nowhere is this more apparent than with the phenomenon that is Boston-based Eze Software Group (ESG).

To describe ESG as an entity that was established apparently in double-quick time and which hit the ground running in the wake of ConvergEx Group’s decision to abandon its trading front-end business, trivializes the decisiveness and judiciousness of its buy-side battle plans from its very inception. In something of a coup, ESG, owned by Fort Worth, Texas-based private equity firm TPG Capital, acquired a pair of key front-office tools—the Eze OMS and the RealTick EMS—from the ConvergEx stable in January 2013. Then some four short months later, ESG revealed that it had also snapped up London-based Tradar, a provider of portfolio management and accounting technology, to complete a buy-side-focused technology suite to rival some of the very best names in the business: Charles River Development, Fidessa, Advent Software, and Linedata. And what an acquisition Tradar was for ESG: it has matched its Eze OMS and RealTick EMS siblings by winning a category in this year’s Waters Rankings—the best reporting system provider—even though reporting is one of its least celebrated functions. Now re-branded Tradar PMS, the platform supports scenario analysis, decision support, order management, trade processing, portfolio accounting and reporting, compliance and risk management, performance attribution, and connectivity with a range of third parties. It is, as its name suggests, something of an all-singing, all-dancing portfolio management system, spanning the front, middle, and back offices. And when combined with the firm’s Eze OMS and the RealTick EMS products, it makes for a compelling offering. Two hundred buy-side firms in over 30 countries can attest to that, a number that is set to swell appreciably in the years ahead.

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