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Napier Park completes trading infrastructure spinout from Citi

Wed, 23/10/2013 - 10:06

Napier Park Global Capital, an alternative asset management firm with USD6.7bn in assets under management, has completed its trading application infrastructure spinout from Citigroup.

Sky Road, leveraging its solution delivery model that blends trading software expertise and daily operational process support, successfully migrated Napier Park’s existing trading platforms.
 
Facing a short timeframe to meet the Volcker Rule’s 2014 deadline, Napier Park selected Sky Road as the technology partner for both domain expertise and end-to-end management of its existing trading and operational system infrastructure. To meet these time constraints, the project tapped into key operational support elements available in Sky Road’s services platform. 
 
Working alongside Napier Park’s IT organisation, Sky Road’s project team was able to transition the platform to Napier Park’s independent data centre and take over day to day operational support from the existing IT support team at Citi. 
 
Michael Williams, managing director and chief operating officer at Napier Park, says: “In light of the rapid delivery requirements, we knew we needed a partner with both the domain expertise and proven track record of managing and developing trading platforms end to end.  Sky Road was a critical part of the project team that delivered ahead of schedule with zero disruption to our business processes. As Napier Park continues to grow, we are confident that Sky Road will enable us to build upon and streamline our trading and risk platforms to best fulfil our investment objectives and serve our investors.”
 
“The Volcker Rule presents numerous challenges to institutions that must now transition complex fund operations and workflows into an independent environment in a greatly compressed timeframe. This becomes particularly challenging when considering the diversity and sophistication of firms’ trading strategies,” says John Borse, founder and president of Sky Road. “By offering a turn-key managed service solution that combines technology and operational support, we have a proven solution for institutions facing rapid transition demands, especially the provisional July 2014 Volcker Rule deadline.”


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