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Reuters and Paladyne form strategic alliance

Reuters is combining its DataScope market data solution with Paladyne's front- to- back office hedge fund product suite.

Reuters and and Paladyne Systems, LLC, have announced a strategic alliance for this purpose. Reuters stated: 'This joint product offering creates a unique combination of world-class technology infrastructure with comprehensive front- to- back office market data'.

Sameer Shalaby, Chief Executive Officer, Paladyne Systems, a leading solutions provider for the hedge fund industry, said: 'The partnership with Reuters adds significant value to our customers and brings us closer to providing a complete ASP infrastructure to the hedge fund industry. By distributing Reuters data as part of our hosted platform, Paladyne clients have immediate access to market data at a lower cost than competitive data providers.'

Reuters has been targeting its market data solutions to hedge funds and their service providers, including prime brokers and fund administrators. By offering its market data within the PALADYNE™ product suite, Reuters has secured a strategic distribution channel into the hedge fund industry. This relationship provides Reuters with a market data delivery channel that may be custom tailored and priced according to the exact needs of any hedge fund, regardless of size and complexity.

The PALADYNE product suite includes order management, real-time profits and losses and portfolio management, custom reporting, data warehousing and analytics, and client relationship management. By adding Reuters DataScope - including real-time pricing, terms and conditions, and analytical data - into its service offering, Paladyne's solution meets the demanding, real-time operational and decision-support requirements of today's most comprehensive hedge funds. 

Caroline O'Shaughnessy, Global Head of Third Party Alliances, Enterprise Information, Reuters, said: 'We are delighted to be integrated with Paladyne's premier front-to-back office product suite. This strategic alliance further enhances our Reuters DataScope Real-time Pricing and Reference Data offering targeted to the hedge fund community.'

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