Pictet Asset Management and Finsemble Win Award for Best Buy-Side Implementation of WatersTechnology in 2021 | State

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CHARLOTTESVILLE, Virginia., November 18, 2021 / PRNewswire / – Cosaic, the workflow solutions provider bringing smart desktop technology to the financial industry, received the WatersTechnology 2021 award for its implementation with Pictet Asset Management. The project brings to Cosaic End up, the smart desktop platform, through Pictet’s purchasing offices to increase efficiency and improve performance for portfolio managers and traders.

Pictet AM leads the pack in terms of interoperability and innovation on the purchasing side, with Finsemble as the basis for the project.

Banks and buyers with application overload use Finsemble to connect and synchronize their applications to create automated workflows, reduce error rates, and improve efficiency. In fact, interoperability has become increasingly imperative in the financial industry, supported by the FDC3 open standards for application communication (see Trader Desktop interoperability matures of A-Team Insights). With its implementation, Pictet Asset Management has become a leader in buy-side interoperability.

“Pictet Asset Management creates automated workflows never seen before in companies on the buy side,” says Cosaic CEO and co-founder Dan Schleifer. “Their innovation team challenged the status quo and created use cases that influence other buyers implementing interoperability. “

Pictet Asset Management is an independent asset management company with over $ 200 billion in assets under management, offering multiple equity, multi-asset, FX and fixed income strategies. Like most businesses, cross-application workflows have created complexity and inefficiencies. Automating workflows across different types of applications (internal, third-party, native, etc.) was the challenge. A technology team led by Carl James, Global Head of Fixed Income, chose Finsemble as their interoperability solution.

“When it came to solving the complications of the cross-application workflow, Finsemble was the only solution that provided the infrastructure and extensive support our technology team needed to develop the automation we envisioned,” says James. “The traders were able to collapse the workflows, and reduce the access time to liquidity, and therefore capture increased alpha for our clients. “

The results of automating these workflows are impressive. To an extent, Pictet traders have been able to save ten minutes per trade through automated workflows, such as:

Money markets work flow – A cumbersome and multi-step process has now been streamlined. Yield calculations are automated, including pricing of future cash flows with currency exposure by automatically logging into Bloomberg to price forward currency contracts.

FX Price Workflow – A primary FIX gateway with connectivity to a number of liquidity providers feeds a spot price database. Traders get a real-time view of the best forex prices required to cover a particular bond order with just one click. Charles River (their WHO) and can generate historical Bloomberg charts for additional context.

Credit and Axis Data Workflow – Ax data of specific counterparties and market aggregators are consolidated and made available with a single click inside Charles River, immediately showing the trader how liquid the issue is and what the current prices are. Traders can then work with the fund manager to find alpha, seeing the content of existing portfolios, interested buyers and being presented with similar bonds. Context is added using the Bloomberg API to calculate spreads, supplemented with analyzes illustrated using ChartIQ charts.

To see a recorded demonstration of these workflows, visit cosaic.io/pictet-interoperability-voyage.

“Finsemble is different from other market players in that our product team provides support from POC to post-production,” says Schleifer. “Our solutions engineers have worked closely with Pictet Asset Management from the start of the ideation to the current development of the project. The Finsemble team and Pictet technologists worked to answer the question: what can interoperability do for you?

In addition to its extensive production support, Finsemble also provides state-of-the-art native support. Since the majority of buyers depend on native and legacy applications, the ability to include .NET and Java applications in automated workflows is a necessity. Learn more about native Finsemble support at https://cosaic.io/finsemble/industry-leading-native-support/.

In addition to this implementation, Finsemble also won Waters’ Technology 2021 Best Seller-Side Implementation with Citi. As a measure of Pictet’s innovation, they recently won the Best Buy-Side Fixed Income Trading Desk award at the European Markets Choice Award.

About Cosaic

Cosaic provides cutting-edge software to businesses that want to promote ingenuity, scale intelligently, and improve end-user efficiency. Products include ChartIQ, the world-renowned financial charting software, and Finsemble, the world’s first code-less intelligent desktop platform. As a workflow solutions provider, Cosaic is revolutionizing the way people work with more than 300 global clients around the world, including Yahoo Finance, E * TRADE, Charles River, and Fidessa. Founded in 2012 as ChartIQ, Cosaic is a fast growing company based in Charlottesville, Virginia with offices in new York, London, and Hong Kong. For more information, please visit https://cosaic.io.

About Pictet Asset Management

Pictet Asset Management is an independent asset management company with over $ 200 billion in assets under management. Pictet Asset Management offers multiple equity, multi-asset, FX and fixed income strategies, with eighteen offices around the world and 900 employees, of which over 400 are investment professionals.

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