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Best Performance & Attribution Product – Waters Technology
Paris-based BI-SAM, like Rimes and Markit EDM, has reaped the rewards of maintaining its focus on its target market—buy-side performance measurement and attribution—although, in recent years, it has added client reporting and risk functionality to its B-One flagship platform, cementing its place as one of the go-to providers in what has become a fiercely competitive market. Its reach is no longer limited to Europe: In the past two years, BI-SAM has made inroads into the lucrative US buy-side market, signing not only an impressive number of new clients, but bulgebracket names to boot.
The vendor’s North America team, which includes local technical support, now stands at 14, while its EMEA operation has a headcount of 78, 16 of whom are based in the UK. Earlier this year, BI-SAM pulled off something of a coup when it announced that Peter Ellis, a veteran in the performance space with stints at buy-side consultancy Investit and Deutsche Asset Management, had been appointed COO of its EMEA business.
But perhaps BI-SAM’s greatest asset is its constant enhancement of B-One, allied with the transparency by which it manages that process. Enhancements for the last 12 months include an ex-ante multifactor risk model for fixed income, supporting a framework for the analysis of fixed income investment processes; a composites module for enhanced reporting, workflow, and control facilities including a new Microsoft Excel add-in tool; and a workflow feature allowing business managers to analyze delays, identify production value-chain weaknesses, and manage key
performance indicators (KPIs).
Future initiatives include fixed-income attribution enhancements to ensure analysis across all US instrument types, including asset- and mortgage-backed securities (ABSs and MBSs); a web portal, the first version of which is scheduled for late this year, while version two is planned
for the second quarter of 2013; a Rimes Technologies application programming interface (API), planned for early 2013; and a multifactor graphics processing unit (GPU)-based Monte Carlo offering, providing clients with a view of their risks and the ability to define investment strategies accordingly. The system will evaluate probabilistic risk indicators on investment portfolios, including a range of multi-sector risk factors. Finally, BI-SAM is planning to establish regional B-One community groups after the success of the group established by its London user group to help focus on clients’ current and future functional and operational needs.