Texas financial software startup to open in Bangalore

Mcube Investment Technologies, a Texas, US-based startup that makes a web-based software product for money management, will open a Bangalore office, sources said.

Mcube, whose software product, AlphaEngine, is used by customers such as the $24 billion Dutch Metalworkers' Pension Fund, has used Microsoft's .Net technologies to build the product.

AlphaEngine was of use to pension funds, endowments, foundations, central banks, investment bank research groups, fund-of-funds or hedge funds. They could use this web-based software as an aid to decision making, Mcube said in a release.

The product helped money managers evaluate investment strategies for any asset class and decide on tactical asset allocation, style, regional and currency allocation, manager allocations, futures across stocks, bonds, cash, currency and commodities, the release said.

Clients can customise analyses to their specific portfolio structure, benchmarks and policy constraints. The net impact to most funds is often higher returns, better governance and risk management, and operating cost savings, the release said.

Srinivas Bette, co-founder and chief technology officer of Mcube said, "Microsoft has helped Mcube to deliver a state-of-the-art web application that combines sophisticated financial computations with an easy-to-use interface. Microsoft .NET technologies offered us a complete platform that simplified our integration and deployment cycle by at least 30 per cent."

Mcube, through an alliance with ORTEC Consultants, a Dutch consultancy in the field of advance planning and operational support, also sells software for asset-liability management, performance attribution, index tracking and risk modeling, its release said.