Key Takeaways
- • WaveLabs has signed its first hedge fund client, a specialist hedge fund running systematic credit strategies that selected the firm's eLiSA execution management system (EMS) to execute its contingent orders, according to The DESK.
- • eLiSA was created by Miles Kumaresan, former global head of trading & fintech at Nordea Asset Management, and uses cloud-based APIs to route orders and complete trades, with AI-based predictive analytics designed to support automated liquidity seeking.
- • eLiSA is currently integrated with the Charles River and thinkFolio order management systems, and WaveLabs says it is open to two-way integration with peer EMSs.
- • WaveLabs has grown to a nine-person team since launch and has another product due to enter its pilot stage in Q3 2023.
Summary
WaveLabs, a developer of specialist fixed income trading technology, has signed up its first hedge fund client, according to The DESK. The client is a specialist hedge fund making investment decisions using systematic credit strategies, which has selected WaveLabs' eLiSA execution management system to execute its contingent orders.
The eLiSA EMS was created by Miles Kumaresan, former global head of trading & fintech at Nordea Asset Management. The platform uses cloud-based application programming interfaces (APIs) to route orders and complete trades. Its signature feature is a set of AI-based predictive analytics designed to facilitate efficient automated liquidity seeking. The Desk notes that systematic hedge funds can use complex mathematical models to identify market dislocations, and that efficient execution of the orders these models generate is a prerequisite for a successful systematic operation.
Kumaresan described the win as a point of inflection for the company, saying the firm was "very excited and honoured" to have an advanced user of this type. The hedge fund's CEO, speaking exclusively to The DESK, said the fund tracks the collective behaviour of a large universe of bonds in real time to identify short- and long-term dislocations, and cited eLiSA's fixed income-specific workflow as the reason for selecting it, describing each step as contributing to precision execution.
eLiSA is currently integrated with the Charles River and thinkFolio order management systems. WaveLabs says it is open to two-way integration with peer EMSs to better serve end clients. The company has grown to a nine-person team since launch and has another product in the pipeline due to enter its pilot stage in Q3.
The eLiSA EMS was created by Miles Kumaresan, former global head of trading & fintech at Nordea Asset Management. The platform uses cloud-based application programming interfaces (APIs) to route orders and complete trades. Its signature feature is a set of AI-based predictive analytics designed to facilitate efficient automated liquidity seeking. The Desk notes that systematic hedge funds can use complex mathematical models to identify market dislocations, and that efficient execution of the orders these models generate is a prerequisite for a successful systematic operation.
Kumaresan described the win as a point of inflection for the company, saying the firm was "very excited and honoured" to have an advanced user of this type. The hedge fund's CEO, speaking exclusively to The DESK, said the fund tracks the collective behaviour of a large universe of bonds in real time to identify short- and long-term dislocations, and cited eLiSA's fixed income-specific workflow as the reason for selecting it, describing each step as contributing to precision execution.
eLiSA is currently integrated with the Charles River and thinkFolio order management systems. WaveLabs says it is open to two-way integration with peer EMSs to better serve end clients. The company has grown to a nine-person team since launch and has another product in the pipeline due to enter its pilot stage in Q3.
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