MIDDLE OFFICE

Managers can minimise their infrastructure support and operational costs by outsourcing middle office activities, freeing them to focus purely on investment decisions.

Our Middle Office services include:

Investment Accounting

Trade Capture

  • Automated middle office solution to acquire bulk trade information
  • Required notifications
  • Book trade to Prime Broker/Custodian system
  • Perform intermediate trades
  • Perform trade matching
  • Reconciliation of front office trade date records with Prime Broker/Custodian system
  • Integrated front to back STP operations process

Reconciliations

  • Daily reconciliation of Positions to Prime Broker/Custodian
  • Daily reconciliation of Cash to Prime Broker/Custodian
  • Reconciliation of the Fund’s system to Prime Broker/Custodian income receivable

Corporate Actions

  • Event monitoring 
  • Middle office to inform front office of pending entitlements
  • Notify front office of discretionary events
  • Instruct decision
  • Take up of entitlements
  • Notify the Fund of entitlements
  • Account for entitlements at ex date
  • Reconcile the positions in the Fund’s system with the Prime Broker/Custodian

Income

  • Establish Accruals
  • Maintain Accruals
  • Settle cash flows at ex date (Securities)
  • Maintain records of receivable/payables
  • Chase outstanding cash payments
  • Maintain aged items register
  • Middle office to notify the Fund of cash and accruals

Expenses

  • Establish Accruals
  • Maintain Accruals
  • Settle cash flows
  • Middle office to notify the Fund of expenses and cash flows
  • Update the Fund’s system

Pricing and Valuation

  • Set-up economic details of deals - Prime Broker/Custodian systems (Settlement)
  • Poll prices/curves – Prime Broker/Custodian
  • Receive Prime Broker/Custodian pricing
  • Obtain prices/curves – Fund
  • Obtain Fund prices for Alternative and Private Equity vehicles
  • Apply prices/curves to Prime Broker/Custodian systems
  • Apply prices/values
  • Reconciliation of Prime Broker/Custodian prices to the Fund’s system
  • Maintain stale price checks
  • Maintain zero price checks
  • Maintain pricing in accordance with Fund guidelines
  • Report stale, zero, illiquid pricing to the Fund
  • Apply pricing to portfolio

NAV Calculation

  • Daily, Weekly, Monthly NAV reporting options
  • Performance and management fee calculation

Operational Services

Confirmation/Affirmation

  • Confirmation of Fund’s trades, Broker trades and Fund-Fund trades

Settlement

  • Settle cash flows of the Fund to Prime Broker/Custodian
  • Settle cash flows to counterparty or 3rd party ( & vice versa)
  • Settle cash flows to the Fund
  • Maintain and issue Prime Broker/Custodian statement
  • Reconciliation of the Fund’s system with expected cashflows
  • Track / resolve / age the Fund’s system to cash breaks
  • Report Prime Broker/Custodian breaks to Custodian and back office

Collateral Management

  • Adjustment of collateral on derivative exposure

Post trade compliance

Hedge recommendations

Risk Management, VAR and Greeks

Model pricing of a range of esoteric instruments

Enhanced Reporting

  • Real time P&L analysis including  slice and dice the P&L
  • Top 10 by fund, industry or other definable measure
  • Cash flow analysis 

 

Click here for Middle Office and Technology Solutions

 

 

AWARDS

  • Equinoxe-Fund-Administration-winner-Wealth-and-finance
  • HFM-European-Services-Awards-2016-Equinoxe
  • Equinoxe_Global-Live-Wire_Awards
  • Equinoxe_HFM-Award
  • Equinoxe_AI-Excellence-Awards
  • Equinoxe_HFM-Awards-2014

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IMPORTANT NOTIFICATION
MERGER
Equinoxe Alternative Investment Services is now part of Apex Fund Services. The existing Equinoxe product suite is further expanded by Apex’s robust regulatory reporting solutions and unique cross-jurisdictional capabilities. The combined service model delivers enhanced functionality to funds across all asset classes, on a global scale.