State Street releases OPERA solution 04 May 2012Boston Reporter: Mark Dugdale
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State Street Corporation has launched a new open protocol enabling risk aggregation (OPERA)-compliant reporting solution for hedge fund managers and institutional investors.
OPERA standardises methods for collecting, collating and conveying hedge fund risk information. State Street will combine OPERA with its risk management platform TruView to meet investors’ reporting needs and provide additional transparency.
State Street collaborated with hedge fund managers and institutional investors to ensure that OPERA meets industry needs.
“State Street is committed to developing solutions that address the evolving needs of sophisticated asset managers,” said George Sullivan, who is the executive vice president and global head of alternative investment solutions at the bank. “Our OPERA-compliant reporting solution reduces the need for hedge fund managers to produce data in multiple formats, enabling efficiency in risk transparency disclosures.”
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