Forefront Communications

HFM Technology: Duet Group Partners with LiquidityBook for POEMS

Sam Belden

Sam Belden

London-based manager Duet Group has selected LiquidityBook for its portfolio, order and execution management system (POEMS).

Duet recently announced the acquisition of two wealth management advisor firms, which added two new offices to its previous network of locations in Hong Kong, London and New York.

This resulted in a need to accommodate multiple lines of business, which drove the decision to shift from Duet’s previous POEMS provider to LiquidityBook, according to the two firms.

“We manage a number of different asset managers with different business models, all of which need bespoke solutions,” said Duet CTO David Collis.

“Moving to LBX Buy-Side was a seamless and cost-effective transition that exceeded our expectations for an efficient deployment.”

Collis is a firm proponent of cloud-hosted software for equities-focused firms.

“[SaaS-based technology] sounds like an obvious thing and something that’s been happening gradually for years,” says Collis. “But we’re getting close to the point where every single function of a fund can realistically be moved to a web-based – or at least cloud-based – solution.”

The Duet signing closely follows First New York’s selection of LiquidityBook, which the firm announced in December.

New York-headquartered LiquidityBook was founded in 2005 by fintech veteran Kevin Samuel.

The company primarily offers portfolio, order and execution management to buy and sell-side firms.

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