Expansion into Fixed Income Analytics Consulting
April 2nd, 2012
Adeptyx Announces Expansion into Fixed Income Analytics Consulting
April 2nd, 2012
Adeptyx Consulting Inc., a provider of consulting and operational support to the institutional asset management business, today announced an expansion of the company’s consulting offerings into fixed income analytics. As a natural extension to Adeptyx’s existing expertise in trading systems, investment operations and similar functions, the growth into fixed income analytics will allow Adeptyx to meet the needs of our clients’ most complex, complicated fixed income data environments.
With the expansion into fixed income analytics, Adeptyx will bring a wealth of knowledge and experience into such industry standard platforms as Yield Book, POINT, Blackrock, and Bloomberg. Based on the feedback received from clients, Adeptyx expects to initially focus on three specific areas within the fixed income analytics space:
- Development Projects – with constant change, growth and evolution in the bond market – innovative security types being introduced, new methodologies to interpret risk exposure, and so forth – clients demand the latest transformations in managing risk and achieving consistent outperformance. With every firm striving to generate the ever-illusive alpha, in order for an asset manager to keep up with its competitors, it is absolutely critical that their fixed income analytic technology infrastructure reflects the firm’s commitment to success. Adeptyx now has the expertise to manage projects ranging from smaller efforts spanning a few weeks to support the newest fixed income derivative to larger, firm-wide initiatives geared towards a major enhancement or implementation of Yield Book, POINT, Blackrock or Bloomberg.
- Support Optimization – as clients process several thousand portfolio and index holdings on a nightly basis to generate fixed income analytic and risk metrics, there are a large collection of support issues that inevitably need to be managed. Most of the time, clients end up with a piecemeal, haphazard approach to support that results in missing / inaccurate data, delays in meeting production service levels, lack of confidence from the user base, and the wrong personnel mismatched with inadequate tools so that issues cannot be quickly fixed. Adeptyx can build an automated, results-driven solution to comprehensively address the multitude of support issues that a client faces each and every day, resulting in production service levels being met, reduced overall support costs, and a happy collection of users.
- Cost Structure Enhancement – with providers such as Yield Book charging clients on a per-CPU minute basis, running unnecessary, inefficient or duplicative calculations can end up costing thousands of dollars a year. A comprehensive review of a client’s Yield Book overnight batch coding can potentially unveil substantial and immediate cash savings tied to a lower monthly invoice. Engaging Adeptyx to perform an analysis of a client’s batch coding offers a superior cost/reward profile together with a quick way to benefit from a prompt, material impact with existing production processes.
To support this expansion into fixed income analytics consulting, Adeptyx announced today that they have partnered with Mark Bredesen, to add a deep level of proficiency within the fixed income analytics space. During a 6+ year consulting engagement at one of the world’s leading asset management firms, Mr. Bredesen developed the largest single implementation of Yield Book with 30+ licenses supporting a variety of overnight batch processes providing information to the firm’s fixed income portfolio managers, traders, and quantitative research analysts. To bolster the firm’s fixed income performance, the firm build a standardized data environment to provide its fixed income team members access to consistent, reliable data paired with cutting edge interest rate, volatility and prepayment risk models. Information from Yield Book was fed into a collection of downstream systems including Risk Management, Client Reporting, Portfolio Construction and Compliance.
“Mark’s consistent track record of success with the most extensive implementations of fixed income analytic systems such as Yield Book and POINT will translate into an even stronger product offering for our existing client base,” said Ari Fuad, President, Adeptyx Consulting. “Furthermore, firms that have historically not benefitted from Adeptyx’s expertise due to the absence of a fixed income analytics offering will now have the opportunity to gain from our proficiency across several critical areas within an asset management firm.
Mr. Bredesen brings more than a decade of experience in managing complex projects associated with analyzing, implementing, testing and supporting highly advanced fixed income analytics systems. He will be responsible for working with Mr. Fuad to grow the new fixed income analytics business, in addition to consulting directly for asset managers that can gain from having their difficult, systematic problems solved.
“Adeptyx represents the perfect venue to effectively utilize the fixed income analytics skill set I have built over the past 10+ years,” said Mr. Bredesen. “Expanding into fixed income analytics and data warehousing is a logical evolution of the Adeptyx approach to offering comprehensive solutions to the variety of problems faced by today’s institutional asset managers, mutual funds, hedge funds, pensions, endowments, banks and insurance companies.”
Mr. Bredesen has held a variety of senior-level positions within the investment banking and asset management industry, including blue chip firms such as Salomon Brothers (NYC), Putnam Investments (Boston), Wells Fargo (Minneapolis and San Francisco) and Dain Bosworth (Minneapolis). He started his career in the Quantitative Fixed Income Research group at Salomon Brothers as an Analyst in the Yield Book group. He holds a degree in Quantitative Economics from the University of Wisconsin – Madison.