Merlin Securities, a brokerage services and technology provider for hedge funds, has rolled out Merlin Compass, a new P&L reporting application that adds intra-day portfolio reporting to the existing integrated trade monitoring and post-trade allocation and reporting tools.
According to the company, the new product suite integrates both in-house Merlin trading applications and any other trading systems that use the FIX protocol, thus eliminating the duplicative and error-prone process of rekeying trade information across multiple platforms.
Information enters the system in real time as trades are executed, and clients have continuous access to trade execution reports and up-to-the-minute P&L reporting. With Merlin Compass, processes that once required special plug-in tools – such as tax lot matching and optimization – are now simultaneously conducted with trade execution, said Merlin Securities.
Aaron Vermut, senior partner and COO of Merlin Securities, said: Merlin Compass represents the tightest integration of trading components available in the industry. Our clients told us they wanted a tightly integrated platform that flowed all the way from trade entry and execution to real-time P&L to end-trade allocation and export to multiple prime brokers. We are very pleased to introduce a solution that allows managers to focus on making investment decisions, not on post-trade administrative matters or correcting clerical errors.