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OPERA open protocol for risk aggregation launched


Albourne Partners and Thomson Reuters have jointly announced the launch of Open Protocol Enabling Risk Aggregation (OPERA), a new protocol that standardises how hedge funds collect, collate, and convey risk information.

The new protocol is intended to help hedge fund investors aggregate and integrate their exposures, to reduce the proliferation of investor-specific risk formats that hedge funds have to manage and to provide regulators with a detailed technical approach, forged by practitioners, to identify systemic risk.

Developed by an independent Working Group of 16 firms, including investors, prime brokers, fund administrators and hedge funds, OPERA is based on