March 11, 2019 · Case Studies
Budo Group: “Rival has the Best Enterprise Risk Solution on the Market”
Budo Group, a multi-strategy firm trading futures, equities and options leverages Rival to monitor real time risk and P&L across all of their accounts. Before migrating onto Rival in 2016, Budo struggled to find a risk management solution to consolidate their trading activity across different front-end systems and clearing firms while also obtaining accurate real-time analytics for all their accounts.
“We have seen other products that just show us our firm risk, which is a meaningless figure for us,” said Mark Cukier, Managing Partner at Budo Group. “Rival was the first solution that allowed us to see the full scope of our risk at an account-by-account level. It’s fair to say that we’ve been in this business a long time and we’ve used a lot of different platforms. The fact that we’re still using Rival after all these years is a pretty firm indication that we think it’s the best risk management platform on the market.”
Rival’s enterprise risk management solution offers a variety of advanced features for Budo to leverage, such user-defined scenarios, real-time alerts, and VaR. Rival’s VaR calculation utilizes Monte Carlo simulations, historical correlations, and current market volatility to provide the most accurate and customizable VaR calculation on the market. Users can easily set different confidence levels and timeframes, aggregate positions across accounts and products, and run VaR on demand throughout the day.
“We actually got into a little debate with our clearing firm about the way they were risking one of our products and we used the Rival VaR break down to show them why we thought they were wrong,” said Cukier, “The clearing firm actually changed their methodology to match what we saw.”
Since switching to Rival, Cukier said he has been nothing but impressed with the support he’s received from Rival and the capabilities the platform has to offer.
To learn more about Rival’s comprehensive solution for market data, multi-asset trading, algorithmic strategy development and enterprise risk management please visit RivalSystems.com.