Rivkin
Following significant client growth after the global financial crisis, Australian broker Rivkin enlisted Saxo to develop a corporate app so it could upscale its advisory services.
Fund manager
<10 employees
Singapore
Noviscient is an open platform fund, based on machine learning, cloud computing and artificial intelligence, which partners with smaller hedge fund managers (as well as independent systematic traders) to help them grow. While smaller, agile hedge funds tend to outperform larger hedge funds with regards to capturing alpha, they cannot achieve the economies of scale necessary to ensure their funds remain profitable. As a result, often investors, particularly institutional ones, are unable to, or choose not to invest in these types of small funds.
To address this issue, Noviscient has devised an open investment management ecosystem whereby it receives trading signals from its alpha partners, dynamically allocates capital and thereafter trades the strategies, after which it provides partners with a share of the profits, enabling them to grow their capital through performance.
Challenge: find a technology-driven prime broker
Noviscient has ambitious growth plans, aiming to have $100m AUM by the end of 2020 and $5bn AUM in the longer term. The firm's target investor base is institutional investors and large family offices that are unable to invest in small hedge funds due to strict investment criteria, the inefficiencies associated with multiple due diligence processes and the level of investment which can be accepted by smaller funds.
In order to attract investment into these types of funds from institutional investors, amongst other things, Noviscient needs to be able to demonstrate that it is partnering with best of breed providers in all areas, including prime brokerage.
Noviscient was one of the first funds to get the Singapore-domiciled Variable Capital Company (VCC) vehicle. In the lead up to the official launch of the VCC framework in Singapore, Saxo and Noviscient collaborated closely to set up their respective necessary structures and processes to be ready for business at the time of the MAS launch.
Scott Treloar
Chairman and CIO, Noviscient
Solution: access multi-asset execution and post-trade services with full transparency of portfolio holdings and performance
With the requirement to demonstrate best practice, Noviscient selected Saxo as a partner as unlike many prime brokers which operate on legacy technology, Saxo's prime brokerage services are truly based on innovative technology.
In particular, via Saxo, Noviscient can access tailored multi-asset liquidity and post-trade services via a single API (OpenAPI and FIX API). As a result, Noviscient benefits from real-time reporting and a flexible account management structure - with master accounts and sub accounts - all from a single margin account.
Further, Noviscient can access more than 65,000 instruments across multiple asset classes with execution, financing and real-time risk management from a single clearing and custody account.
Current and future success
More widely, Noviscient is exploring ways in which it can collaborate with Saxo to leverage certain aspects of SaxoSelect, Saxo’s fully integrated automated portfolio management solutions to both firms' advantage. Further, Noviscient believes that it has benefited from being part of Saxo's trading community through networking opportunities and brand recognition, particularly in the Danish market.
About Noviscient
Noviscient is a multi-strategy, quantitative, investment management platform with a business model based on alignment, performance and transparency. Noviscient is a registered fund management company (RFMC) under the Monetary Authority of Singapore
Explore our partnership models.
Develop your business plan and key metrics with our experts.
We’ll help you configure, implement and test your solution.
Receive ongoing expert support from your commercial launch onward.