Is there an open source alternative to Blackrocks Alladin software?

The short answer is no. Portfolio and order management systems are highly complex and interface with numerous other systems. There are only a few companies like CRD and Blackrock that make them because the market is small, and because they are so important they are very expensive (millions per year). An open-source system would be useful but you’d have to overcome a lot of issues. Mainly, institutional asset management firms want only systems that are already battle-tested because the due diligence process for institutional clients is very in depth.

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