WaveLabs, developer of the specialist fixed income trading technology, eLiSA, has signed up its first hedge fund client.
The eLiSA execution management system (EMS), created by Miles Kumaresan, the former global head of trading & fintech at Nordea Asset Management, uses cloud-based application programming interfaces (APIs) to route orders and complete trades. eLiSA’s signature characteristic is the set of AI-based predictive analytics that are designed to facilitate efficient automated liquidity seeking.
“We are very excited and honoured to share that a specialist hedge fund making investment decisions using systematic credit strategies has selected WaveLabs as their EMS to execute their contingent orders. Having an advanced user like this is a point of inflection for us – this is the impact we set out to make in fixed income trading,” said Kumaresan.
Hedge funds can employ highly complex mathematical models to measure and identify dislocations in the market, which are potential opportunities that can be captured by entering positions with the expectation that the mispricing will reach their relative fair values. A pre-requisite for a successful systematic investment operation is efficient execution of the orders it generates.
Speaking exclusively to The DESK, the CEO of the said hedge fund stated, “We track in realtime the collective behaviour of a large universe of bonds and look for short and long-term dislocations. What makes eLiSA the ideal solution for us is its uniquely fixed income workflow. Every piece of the workflow collectively contributes to achieving precision execution.”
eLiSA is currently integrated with the Charles River and thinkFolio order management systems (OMSs). Wavelabs says it is open to two-way integration with its peer EMSs to better service end clients.
WaveLabs has grown to a nine person since launch team and has another product in the pipeline due to enter its pilot stage in Q3.
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