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UAT’s HiLo Engine Granted U.S. Patent 7,809,632
Wednesday, October 06, 2010
Denver, CO -- UAT Inc., a financial services technology firm focused on helping the externally managed and sub-advised industry meet today's higher fiduciary standards, announced today the United States Patent and Trademark Office has awarded the company U.S. Patent 7,809,632 for the UAT System's HiLo Engine, an innovative technology that, for the first time, provides real-time connectivity between sub-advised platforms and their external money managers. Patents for the HiLo Engine have also been filed in 38 other countries.
UAT received its first patent for the UAT System, a first-of-its-kind solution to the decades-old deficiencies in the $3.5 trillionexternally managed and sub-advised market, in March 2010. While part of the greater UAT system, the HiLo Engine warranted its own patent as a significant technological advancement.
"The HiLo Engine is what enables the UAT System to provide a real-time solution to the sub-advised market, the first time this has ever been possible," said Tom Warren, UAT's President. "The HiLo Engine makes it possible not only to review trades in real time, but to stop a trade that does not meet compliance review. As a result, sub-advised platforms can now properly comply with existing SEC requirements for supervision and prevention of violations by external money managers."
The HiLo Engine works by capturing orders in real time through a single integrated communications system as money managers continue to enter orders into their current trading systems. All orders are automatically routed through the UAT System including the HiLo Engine, where it is determined if the order has a high expected market impact or low expected market impact based on rules-based parameters established by money managers. "High-touch" orders are routed back to the money managers to "work" to reduce market impact while "low-touch" orders are routed to a low-cost, high-speed execution network to generate significant savings in brokerage costs.
"The HiLo Engine enables low-cost trading of easily executed all-electronic orders, creating an opportunity for 5 to 8 basis points in annual savings," said Allan Chiulli, UAT's CEO. "This patented technology is instrumental in the UAT System's efforts to improve investment performance, increase revenue and generate expense offsets throughout the externally managed and sub-advised industry."
For more information about the UAT System, or to speak to Mr. Warren or Chiulli, please contact Carol Graumann at 973-732-3521 or carol@jcprinc.com.
About UAT Inc.
UAT Inc. is a financial services technology firm focused on improving control, compliance and savings in the externally managed and sub-advised industry. Through its patented UAT System, developed to create transparency, oversight and cost savings, UAT provides real-time data to identify and prevent violations by external money managers, improve governance reporting and risk management, and generate significant, recurring cost savings. Public and private defined benefit plans, defined contribution plans, mutual funds, not-for-profit funds, variable insurance products, bank trust groups, endowments and foundations can all benefit from the UAT System. For more information, visit www.uatinc.com.
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