Quantopian Partners With SS&C For Fund Administration And Services

Mar 29 2017 | 10:11pm ET

Online investment algorithm platform Quantopian has chosen well-known fund administration and technology services specialist SS&C Technologies to support the firm’s investment operations.

Quantopian will utilize SS&C’s Geneva platform for portfolio management and reporting, and its Recon system for reconciliation and exception management, the company said in a statement. To help manage Geneva, Quantopian will also utilize operational services to handle day-to-day tasks such as validating daily trade uploads, setting up new accounts, monitoring and validating security masters, monitoring market data feeds, and providing daily reconciliation. 

As part of the agreement, Quantopian has appointed SS&C as its fund administrator, the statement continued. 

"Partnering with SS&C is a strategic step that meets our needs for an institutional grade platform with operational and reporting flexibility that fits our unique business model," said Dragan Skoko, head of trading at Quantopian. "We needed a software provider with a diverse global client base, expertise in quantitative investing, and the ability to administer a complex integration."

"Having worked with Quantopian's founders in prior business ventures, it has been impressive to see their growth and the level of interest they are receiving from the broader investment community," said Robert Roley, co-general manager of SS&C Advent. "SS&C has admired the firm since its launch several years ago, and our team is excited to partner with Quantopian through our innovative and trusted solutions.”

Boston-based Quantopian offers an integrated, free, community-based platform that offers access to deep financial data, research capabilities, university-level education tools, a backtester, and the opportunity to receive a capital allocation. Quantopian’s community has doubled in each of the last three years and now totals more than 120,000 members in 180 countries.

The company’s portfolio of investment algorithms is selected from hundreds of thousands of algorithms written by its members – including professors, finance professionals, research scientists, developers, and students. Each one is reviewed and then allocations are selected based on return, risk, style, capacity and interaction effects.

The authors of the selected algorithms receive a share of the profits generated from their investment strategies. 

Quantopian has received nearly $50 million in equity investments, including a Series C round led by Andreessen Horowitz, and announced last September that it would manage up to $250 million for Steve Cohen’s Point72 Asset Management beginning later this year. 

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