Arcesium: Opterra operations, Aquata data and Limina investment workflows

Arcesium supplies investment technology and operational services to asset managers, hedge funds, private-market firms and institutional investors. Its capital-markets offering also addresses banks and prime brokers, including financing, margin, collateral and securities-lending workflows. The February 2026 acquisition of Limina added portfolio and order management to a business already supplying investment data and middle- and back-office technology.[1][3]

Opterra’s treasury functions work at the level of actual counterparty agreements. The platform can reproduce negotiated financing terms, show exposure at parent, legal-entity and agreement level, process rate and availability files, and simulate margin through APIs. Cash, collateral and financing charges are related inputs to this workflow. For prime brokers, the published scope includes client inventory, configurable agreement terms and collateral allocation; for investment managers, it includes independently checking margin and financing against counterparties.[5]

Its reconciliation service normalises and matches information from counterparties, administrators and internal systems. Users can inspect the workflow through an application or API and configure nonstandard comparisons. Machine-learning features can recommend actions from reason codes. This gives an operations team both a comparison process and a way to investigate its exceptions; the configured source population and matching logic determine what is being reconciled.[6]

Aquata offers preconfigured connectors and tools to extend models and pipelines. The documented source types include reference and pricing vendors, order-management and accounting platforms, fund administrators, lending-platform loan tapes, and digital-asset exchanges or wallets. Its event-processing capability can start pipelines when configured conditions are met. Bespoke attributes and tables can coexist with the supplied investment data models, so a firm can retain internal classifications rather than force every dataset into one fixed template.[8]

The August 2026 Marketplace update gives concrete examples: MarketAxess pricing, ICE data, EquiLend Orbisa, Northern Trust and CIB Mellon daily NAV files, SS&C allocation files, and Morningstar Sustainalytics and DBRS content. These are connectivity listings within Aquata. Arcesium directs customers to their relationship team to activate them and to its documentation portal for technical detail; that portal redirected to sign-in during this review.[10]

Aquata Data Share can publish selected datasets into a customer’s Snowflake account through Secure Data Share. The setup identifies the receiving account, the datasets and either scheduled or event-driven publication. A native Excel plug-in supports spreadsheet use of Aquata data, while Dynamic Document Studio provides reusable report templates and scheduled distribution. These are different consumption routes over the data platform, with distinct recipients and refresh requirements.[9]

Limina has three integration approaches: vendor-managed interfaces, a no-code Import/Export Manager, and HTTP/REST or WebSocket APIs. The published guidance treats APIs as the choice requiring technical resources. Trading connectivity uses FIX for brokers, execution-management systems and outsourced desks; other interfaces cover custodians, market data, accounting, reporting and internal systems. The ownership of mapping and maintenance therefore depends on which integration approach is selected.[17]

Limina’s OMS describes direct broker routing, electronic fund trading and offline OTC workflows. Named interfaces include Bloomberg EMSX, TSOX and FXGO, Virtu Triton, 360T and FXall; post-trade links include CTM, NYFIX Matching and external transaction-cost analysis. New or changed orders pass through configured pre-trade checks, and allocations can populate charges and settlement instructions through rules. These are documented integration and workflow capabilities, with the chosen destinations remaining part of implementation.[16]

Limina publishes the following IMS example configurations, expressed as monthly fees with annual billing. They price this product within the Arcesium family.[18]

The page excludes AUM-based charging and includes hosting and support. Operations Hub costs $1,200 per user annually. Managed-integration setup is quoted at $5,000–$10,000 without defining a per-connection unit. Enterprise thresholds differ: the main text says above $35,000/month, while the FAQ says above $400,000/year. A proposal needs to resolve that boundary and any external consultancy costs.[18]

Arcesium’s managed-service engagements use client-defined thresholds and configurable agreements, with staffing ranging from an individual professional to a full team. A commercial scope consequently needs to identify which data, reconciliation, accounting and treasury activities are included and which remain with the client. Limina’s subscription examples do not establish a price for those additional operating services.[12]

Arcesium’s published Aquata implementation approach starts with contracts, a dedicated AWS environment, credentials and requirements covering data, interfaces and entitlements. It then maps inbound data, configures APIs, reports and outgoing pipelines, and proceeds to production-data connectivity checks and client parallel testing. Delivery runs in iterative sprints with customer validation. The third-party data agreements are explicit initiation tasks, alongside the platform contract.[13]

Limina assigns itself responsibility for environment setup, managed integrations and training. It can also assist with migration and configuration through data-management services. Its implementation page describes most projects as taking three to twelve months, dependent on asset coverage, custodians and compliance rules, and separately gives shorter examples for narrowly scoped launches. The published range therefore belongs to a specified Limina implementation, rather than every Arcesium data or outsourcing project.[19]

Limina describes its IMS as browser-based SaaS hosted on AWS, with a separate virtual cluster for each client. It provides automatic failover and documents a disaster-recovery arrangement. Contractual service levels cover uptime and response times, but this public page does not state a numerical uptime commitment. That separates the disclosed hosting design from the actual service-level terms agreed for a customer.[20]

Arcesium’s managed-services page states a 24/5 global presence for its financial-operations teams. This applies to the operational service described there. Limina separately assigns a dedicated client contact who learns the client’s configuration and can investigate workflow-specific issues; its support example traces a compliance exception through instrument data, prices, order status and rule setup.[12][21]

Aquata’s entitlement model operates at group, user, table-row and column level, including time-limited access. It can connect to an institution’s existing entitlement systems. Its lineage and auditing tools expose both the effective date of data and when it was known to the system through bitemporal records. These controls matter when different desks, funds or service-provider users should see different parts of a shared dataset.[11]

Arcesium’s online privacy statement identifies Arcesium LLC and related entities, including Arcesium UK LLP and Arcesium India Private Limited. It expressly separates public online resources from contracted cloud software: customer confidentiality, privacy and security obligations are governed by the customer agreement. The website notice is therefore not the service contract for production investment or client data.[2]

Arcesium’s current company account traces its technology to a platform developed within D. E. Shaw and its launch to a joint venture with Blackstone Multi-Asset Investing. J.P. Morgan subsequently made a strategic investment. The 2 February 2026 announcement states that Arcesium acquired Limina and that the Limina team would join it. These establish the family relationship; they do not establish sole ownership of Arcesium by any one of those investors.[1]

Operator

Arcesium LLC

Service scope

Investment data, accounting, reconciliation, treasury and reporting technology; Limina portfolio and order workflows; configurable managed operational services.

Customer types

Institutional asset managers; Hedge funds; Private-market firms; Asset owners; Banks and prime brokers; Fund administrators

Delivery

SaaS; API; Managed service

Pricing publication

Public and quoted pricing

Headquarters

New York, United States

Platforms

Opterra; UBOR; PerformA; Aquata; Limina IMS

Integrations

Aquata Marketplace data connectors; Snowflake Secure Data Share; Aquata Excel plug-in; Limina HTTP/REST and WebSocket APIs; FIX broker and EMS interfaces; CTM and NYFIX Matching

Pricing scope

Limina publishes scoped examples with annual billing, separate Operations Hub and integration-setup charges, and inconsistent enterprise thresholds. Other operating-service scope is agreed individually.

Implementation

Application-specific data mapping, interfaces, entitlements and parallel testing. Limina describes a typical three-to-twelve-month project range; managed operational responsibilities are agreed separately.

Support

Arcesium describes 24/5 global managed-service teams. Limina provides a dedicated client contact. Public enquiries and authenticated customer documentation are available.

Permissions and regulatory scope

Technology and managed operational services with customer-defined controls and data entitlements. Customer agreements govern production-data confidentiality, privacy and security obligations.

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A named customer example is the 15 January 2025 agreement with Neuberger Berman Specialty Finance for its asset-based financing strategy. The announcement specifies Opterra, Aquata and managed services, with a granular loan-level book of record, counterparty reconciliation and NAV-reporting requirements. Neuberger Berman identified consumer-loan workflows and control over the loan lifecycle as part of the need. This is evidence of a specific contracted application and intended operating scope; the announcement does not itself date a completed migration.[15]

The distinction between an operational book and a reporting dataset is useful across this portfolio. Opterra’s UBOR combines investment records and accounting outputs, including returns and a double-sided general ledger; PerformA handles investor allocation structures. Aquata can then distribute governed data to downstream analytics and reporting tools. A project may use those capabilities together, but the accounting model, allocations and external data consumption remain separately identifiable requirements.[4][9]