Summit and CoVision link up for hedge fund trading platform

New York-based transaction processing technology company, Summit Systems, has teamed up with another New York company – investment management firm CoVision Capital Group – to create an investment trading platform specifically geared to hedge funds.

The platform will enable hedge fund managers, via CoVision, to access real-time trading analytics, transaction processing and a risk management operating platform. The integrated technology and operating infrastructure is based on those used by traders at financial institutions.

Summit Systems claimed the complete analytics and processing for exchange-traded and over-the-counter derivatives will expand hedge fund managers’ list of investment and hedging alternatives. The real-time risk management tools and institutional-quality middle and back-office are designed to address the growing institutional focus on market and operational risk management, the company said.

“The growing complexity and speed of markets, as well as increased investor focus on risk, make sustainable manager success more difficult to achieve, added Brian Zipp, CoVision founding partner. “We believe that creating the operating infrastructure typical of major financial institutions is becoming increasingly important in building a successful hedge fund business,” he added.