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London-based youDevise and The Bunker Secure Hosting, which has its headquarters in Sandwich, Kent, have extended the agreement under which The Bunker provides secure database and web hosting services for youDevise's Trade Idea Monitor and Hedge Fund Information Provider.
YouDevise provides web-based portfolio workstations for financial markets with on-demand applications include the Trade Idea Monitor, which enables high-speed communication of equity trade and portfolio ideas between institutional brokers and their money manager and hedge fund clients, and the Hedge Fund Information Provider, a portfolio management system for funds of hedge funds.
Since the launch of the Trade Idea Monitor in 2005 and the Hedge Fund Information Provider last year, more than 4,000 active users worldwide use these applications on a daily basis at more than 150 institutional brokerages, proprietary trading desks, hedge funds, traditional asset managers and funds of hedge funds, including some of the industry's largest firms.
'Our clients who have visited The Bunker, which is housed in a nuclear-hardened former Ministry of Defence facility outside of London, have been impressed uniformly with the state of the art security that it provides,' says youDevise managing director Colin Berthoud.
'We handle highly sensitive positions and trading recommendations on behalf of clients that are accessible over the internet, so each investment bank or asset manager has to be confident that The Bunker meets their security demands. 'Five clients have commissioned full security audits, including penetration tests, and The Bunker has always passed with flying colours.'
YouDevise has extended the agreement with the Bunker for a further two years and tripled the number of servers that provide replicated databases for low latency access to the Trade Idea Monitor or Hedge Fund Information Provider at any time as well as ready to go 'hot' off-site back-up servers.
Says Peregrine Newton, chief executive of The Bunker: 'We provide fast, uninterrupted and ultra-secure service. This is critical to youDevise clients such as institutional brokers, who rely on the Trade Idea Monitor for generating higher commissions, proprietary trading desks, hedge funds and other asset managers, who use it to increase trading returns, and funds of hedge funds, who count on the Hedge Fund Information Provider for highly accurate position information.'
YouDevise and The Bunker used open source software to design the resilient, secure network and system architecture, which includes MySQL database servers, load balanced application and web servers running Apache Webserver, Apache Tomcat, Gentoo Linux OS, and mirrored open source firewalls, an intrusion detection server and a monitoring server.
The Bunker, which provides secure data centres and managed services on a range of technologies from open source to Microsoft and including network management, has a team comprising security and cryptography experts renowned for their work on Apache SSL and Bluesnarfing. The firm uses open source software where appropriate on the ground that it offers great benefits in security, stability and cost effectiveness. The Bunker has more than 75 clients including financial services groups, technology companies, local government bodies and other regulated businesses.
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