Iris launches eqTrader

Iris Financial Systems, a provider of trading and risk management systems based in San Francisco, today launched eqTrader, a component-based equity portfolio management system, onto the European market. eqTrader enables portfolio managers to automate their investment process, from trade-list generation to execution, while allowing them to check their risk exposures and returns on a real-time basis.

eqTrader is aimed at hedge funds and portfolio managers that have a high quantitative bias. As well as providing a complete front-to-back end solution, eqTrader allows funds to customise various components according to their individual needs.

Martin Gorrod, senior business consultant at Iris, said the product was aimed at funds that have a mechanised or highly model-based strategy, such as statistical arbitrage funds. The product was launched two years ago in the US, though it has only been taken up by three or four hedge funds so far, according to Gorrod. One of these is Iris’s sister company EVA Associates, a US-based statistical arbitrage fund.

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