“It had to be modern in terms of API connectivity, as we wanted to outsource connectivity to execution brokers and prime brokers, which requires a particular capability. Aside from that, we wanted modern infrastructure that is hosted on the cloud rather than on-premise. Part of Noviscient’s mission is to provide full transparency and visibility, so strong API connectivity is absolutely essential in the partner we were looking to work with. Lastly, we needed a platform that offered a full scope of visibility including trading and position levels in addition to just a blotter. QUO ticked all these boxes.”
Investment management has largely been an offline industry with end-of-month updates in the form of pdfs and so forth. The QUO platform is helping to bring the industry into the 21st century with real-time data and information transfer. All in all, it’s exceeded our expectations as a software-as-a-service based wealth management platform, providing immense value through its ability to connect to fund managers via the API.”
Noviscient is a quantitative investment management fund manager that works with boutique trading groups from around the world and trades on the basis of alpha strategies that its alpha partners generate. The company’s operations model has new technologies in investment and wealth management at its core.
QUO spoke with Noviscient’s chief executive and investment officer, Scott Treloar, about the challenges they were facing, why they chose QUO as their Trading Technology provider – to consolidate positions and provide a platform allowing real-time view of investments and portfolios for its internal managers, alpha partners and investors.
What were Noviscient’s business needs before partnering with QUO?
“We were looking for a light-weight solution that aligned with our own technology-led business model,” said Scott. “Subsequently we signed with QUO in July 2020 and went live on the QUO platform by September 2020.”
“We chose QUO to enable us to provide a light, robust underlying infrastructure”
“The industry is, as is well known, slow to change. After all, many large fund managers with billions under management are still Excel-driven,” says Scott. “Smaller managers have essentially been shut out. What QUO tech does is open up investment possibilities to smaller investors. It applies interesting approaches to investment and helps smaller asset managers to get in and grow. Noviscient is looking to be a force for good for all investors and QUO is the team of knowledgeable, industry-experienced and dedicated professionals we were looking for to help drive this change.”
“QUO is helping us construct a new-world wealth management solution in an industry that’s still being held back by old-school processes”, said Scott. “Current industry economics are pushing investors towards the largest asset management firms but new technologies and approaches can enable smaller and boutique managers to not only level the playing field but to also offer a way to achieve better returns for clients.”
An essential offering by Noviscient to its alpha partners is allowing them to monitor their positions on the QUO platform and trade with multiple brokers. Additionally, they can take full advantage of QUO’s coverage of all markets and all asset classes. Moreover, the platform’s complete trading setup, including pre- trade checks and trading and portfolio visibility, enables a direct, unencumbered workflow between Noviscient and its alpha partners.
Speaking specifically about the QUO platform itself, what features have proved to be particularly beneficial?
“From the outset its modern and cloud-native infrastructure ties in exactly with how we want to operate across our entire workflow. It allows our alpha partners to see PNLs in real time and improve on operational speed and performance efficiency with the use of API. They can see their portfolios and investors can view their reports in a real-time environment.”