Thomson to offer real-time market data via Paladyne product suite
Thomson Financial, a provider of information and technology solutions to the global financial services industry, has announced a strategic distribution relationship with Paladyne Systems, which provides technology solutions to the hedge fund market.
Under the agreement, Paladyne will provide Thomson DataFeed, a real-time market and pricing data service, directly to its customers through its Paladyne product suite, a fully-hosted front- to back-office hedge fund solution. Thomson Financial will act as the agency of record for all exchange level reporting requirements.
By integrating Thomson Financial's real-time market information into Paladyne's order management and portfolio management tools, clients will have more comprehensive data for electronic trading, order management, and real-time P&L and position tracking.
'We are delighted that Paladyne and Thomson have entered into this relationship since it will impact on our prime services customer base,' says Sal Ventura, managing director of Prime Services at Credit Suisse. 'We offer Paladyne's trading and real-time P&L tools within our Advanced Prime hedge fund platform, so our customers will benefit from this strategic alliance.'
Matthew Burkley, president of enterprise solutions at Thomson Financial, says: 'We are pleased to partner with Paladyne Systems in offering our real-time data through their innovative, ASP-based delivery model. This relationship gives Thomson more direct access to the hedge fund market and enables Paladyne to enhance its overall service.'
Sameer Shalaby, chief executive of Paladyne Systems, adds: 'This partnership allows Paladyne to provide comprehensive real-time data in an easily deployable and streamlined manner. Both our current and new clients will gain immediate access to Thomson's real-time data through our hosted product offering.'
The Paladyne suite, which is available either as a fully hosted solution or as an on-site local installation, includes order management, real-time profit and loss and portfolio management, portfolio accounting, custom reporting, data warehousing and analytics, and reference data management.
Thomson Financial, which has revenues of USD2bn in 2006, serves clients in more than 70 countries. It is part of the Thomson Corporation, a global provider of electronic workflow solutions to business and professional customers based in Stamford, Connecticut which offers value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare.
Paladyne Systems develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organisation. The Paladyne suite is an integrated set of applications including order management, portfolio management, portfolio accounting, global security master, analytics tool set, comprehensive portfolio pricing, custom reporting, and customer relationship management.
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