Eze Eclipse Makes Major Enhancement Strides in 2020 to Help Maximize Operational Efficiencies
2020 – a year for the history books. Although we’d like to put the year behind us once and for all, we’d also like to show you some of the great stuff our R&D team has been working on. 2020 was a great year for Eze Eclipse, signing more than 150 clients to the platform, institutionalizing their infrastructure. Over the last 12 months, we’ve worked to bring clients robust modeling and analytics tools, simplified batch ordering, and various other operational enhancements to help maximize efficiencies throughout our clients’ firms. On top of enhancing the platform, we also introduced a brand new mobile app powered by Eze Eclipse.
We’ve added numerous trading tools in 2020 to help streamline daily trading workflows. Traders can now batch edit orders using values of specific columns on the blotter for multi-selected orders. This allows users to quickly and easily update groups of orders with the same value in a particular column, so traders don’t spend critical time having to edit each one. On top of this great new batch editing order feature, traders can route batch orders directly within the blotter, so they don’t have to make more clicks to quick send profiles.
Users can now automatically mark orders as complete on a schedule after an order has been at least partially filled with one or multiple brokers. This streamlines a user’s completed order tasks so they can focus on other key tasks. Easy-to-use configurations allow users to define the exact parameters your trades must meet to be marked as complete.
Portfolio managers can now take advantage of some great new modeling and analytics tools. In 2020, we introduced modeling tools that allow you to analyze your positions and see the impact of hypothetical changes on your entire portfolio. When you run your model, Eze Eclipse shows you exactly which assets you need to buy or sell within your portfolio to maintain your parameters of asset allocation and risk. You can automatically rebalance based on your model or make direct, manual edits within your Modeling grid.
Portfolio managers can now also create reports based on an Analytics workroom or individual widgets (i.e. Analytics Grid, Summary, Bar Chart, and Best/Worst Widgets) so they can view their analytics data in one snapshot or share with others. Reports can be delivered directly to their inbox as a report on the schedule they choose.
New to Eze Eclipse in 2020, users can add cash to their compliance checks. We’ve made the compliance rule editor even more flexible by adding cash positions as an option when building out new rules. Users can now create rules around min/max cash balances and weightings using PortCashMktVal(V) and PortCash% to ensure that their portfolio composition meets their guidelines.
In accounting, we’ve made some reconciliation enhancements to help optimize back-office workflows. Users can now take advantage of annotation notes within Reconciliation. This allows for simple record keeping for investigating and resolving reconciliation by allowing users to keep all their notes right in the Reconciliation tab. All users can view and enter comments in the new Annotation Details blade of Operations. We also added a new Reconciliation exception parameter: Unit Cost. Prior to this update, users could choose from parameters including: Quantity, Price, and Market Value. Now in Eze Eclipse, we aimed to make the recon process as painless as possible by providing another parameter.
2020 saw several new features added to Post Trade. Standing Settlement Instructions can now be configured in Eclipse using a friendly UI that provides full control and transparency to our users. We have extended our trade edit, cancel and exclude from file capabilities to support user actions in a batch mode, thereby greatly reducing the time commitment from our users. Further, to improve the experience for our SS&C mutual clients, we have enabled an API based data transmission, thus providing real time data transmission and response status.
Within Reconciliation, we have taken steps to speed up the daily operations activities for our users. The most notable is the support for importing rebates, fee and swap accrual data using files directly from the Prime Broker systems. This process alleviates the need to key-in the data as it is placed automatically into the Accounting module and allows for accurate tracking of security level PnL for swap and equity short transactions.
We also introduced the Allocation Alerts blade in Operations to help you monitor alerts for post-trade allocation records. Validation alerts can be found in the ‘Post-Trade’ tab and if a user’s system is configured with an API connection to SS&C Fund Services, they can also see alerts from SS&C for the allocation within the blade.
We recently introduced new commission management tools in Eze Eclipse that allow users to manage and track commissions for the underlying brokers with their Outsourced Trading Desks (OTDs). Users can now configure their commissions rules that apply to an order based on the underlying broker. They gain a simple, accurate view into their OTD Commissions, so they always know where their expected commission budgets and allocations stand, and more importantly, where their money is going.
These are just a short list of the many enhancements the SS&C Eze R&D team worked on throughout 2020. Improvements and enhancements are continuously upgraded in Eze Eclipse so users can always take advantage of the latest and greatest to stay ahead of the competition.
For a more comprehensive list of enhancements, please check out our Eze Eclipse Update Tour page.
Frank Orzechowski is the managing director of product management for SS&C Eze. In this role, he oversees global product management and is responsible for strategic planning for the product roadmap, execution of the product development changes, and product evolution across SS&C Eze’s flagship solution, Eze Investment Suite, as well as its cloud-native platform, Eze Eclipse.