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Alternative Market Briefing

OpenGamma expands into the US

Wednesday, November 28, 2018

Bailey McCann, Opalesque New York:

London-based derivatives analytics company, OpenGamma is expanding into the US. The company says its expansion plans come as regulatory and macroeconomic pressures continue to hit hedge funds and asset managers with offices all over the world.

OpenGamma's solution provides data to fund managers about transaction costs throughout the industry so that funds can find lower cost counterparties. Managers can also report their derivatives activity through the platform in order to generate best execution style pricing information for derivatives trading which is often opaque. OpenGamma has been primarily focused on European funds but sees the same regulatory trends emerging in the US.

"2019 is going to be the first year where the full weight of the new margin requirements is going to be on funds in the US and the EU," said OpenGamma CEO Peter Rippon in an interview with Opalesque. "We think our platform is well positioned to give managers some options as they look for the most capital efficient ways to maintain their strategies."

Rippon cites new rules governing derivatives trading as a key source of concern - fund managers can now be charged additional margin known as 'liquidity add-on' which can increase the cost of margin by 70%. This increase is hitting end investor returns as hedge funds continue to lock down more and more capital.

Market participants in the US are also facing pressures from the uncertainty surroundin......................

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