Paladyne Systems has extended its global capabilities in Paladyne Portfolio Master, its combined order management and portfolio management solution, to help clients meet the Hong Kong Securities and Futures Commission's (SFC) requirements for fund managers to disclose net short positions next month.
The SFC Rules come into effect on 18 June and the first reporting day and reporting deadline will be June 22nd and June 26th, respectively. All fund managers holding short positions in Hong Kong stocks will be required to comply. Paladyne provides a centralised solution within Paladyne Portfolio Master to streamline these reporting requirements by automatically importing the universe of SFC's specified companies that require short sale disclosure and allows clients to generate daily monitoring reports, along with the weekly disclosure to the SFC on relevant short positions that fulfillthe prescribed thresholds. Paladyne clients can also configure a rule to alert them when positions need to be disclosed.
"Paladyne has built an institutional framework that positions investment firms to be able to respond to global rule changes and other regulatory and compliance requirements rapidly and on time," says Sameer Shalaby, President, Paladyne Systems. "As a result, fund managers and service providers can fulfill their reporting obligations, including internal compliance and approvals checks, in a timely manner with minimal manual intervention."
Paladyne Portfolio Master combines multi-asset class Order Management System (OMS) and Portfolio Management System (PMS) functionality including broker-neutral trading, shadow accounting, and portfolio management in a single hosted solution. As part of Portfolio Master, Paladyne recently teamed up with Advise Technologies to create a solution to help its hedge fund clients meet the reporting obligations of the new SEC Form PF with a seamless enterprise-wide platform and comprehensive toolset. The Advise Enterprise server and Form PF Workbook have been integrated with the Paladyne Suite of products to provide an interactive web-based Form PF interface for clients, hosted in Paladyne ASP SAS 70 certified data centres in the US, Europe and Asia.