Paladyne Systems and Credit Suisse are to deliver a fully hosted front-to-back office solution capable of supporting hedge funds that require multiple prime brokers.
Credit Suisse and Paladyne will offer hedge funds an integrated, multi-prime solution enabling managers to operate and grow their businesses based on evolving needs without the constraint of a 'single-prime' technology platform that restricts funds to one prime broker.
By leveraging the Paladyne suite, hedge funds of all strategies and sizes will be able to more easily expand their relationships beyond any one prime broker or launch a business in less time and at reduced cost.
'Our strategy is to meet both the current and emerging needs of the hedge fund industry,' say Philip Vasan, Managing Director and Head of Prime Services at Credit Suisse. 'Paladyne's fully-hosted technology solution will enable Credit Suisse to provide our clients the first 'out of the box' technology platform that integrates front, middle and back office capabilities.'
The partnership allows Credit Suisse clients to access both the Paladyne technology platform and existing Credit Suisse infrastructure. In addition, the Paladyne alliance positions Credit Suisse to respond to the growing demand for outsourced middle and back office services to hedge funds.
'This unique offering solves a number of business issues facing today's hedge funds,' says Sameer Shalaby, Chief Executive Officer of Paladyne Systems. 'Many hedge funds perceive they are locked into a single prime broker relationship due to technology. The Credit Suisse-Paladyne solution frees them to be truly independent of any one prime broker. And importantly they will be able to utilize a best of breed technology solution at minimal cost and risk.'
Paladyne and Credit Suisse are currently integrating Paladyne's multi-asset order routing tools to direct orders to any client-specific counter-party or to Credit Suisse's existing trading and execution platforms.
Paladyne is presently servicing clients on its hosted technology platform and expects to incorporate its offering with Credit Suisse Prime Services later this year.
The PALADYNE suite includes the following capabilities:
Paladyne Portfolio Master - provides order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
- Paladyne Portfolio Analytics - provides portfolio analytics, data aggregation, and custom reporting tools
- Paladyne Security Master - provides a centralized terms and conditions repository and distribution engine with real-time updates and corporate action alerts
- Paladyne Price Master - provides automated collection, storage, and analysis of prices and market data from any third-party sources.
- Paladyne Client Master - provides complete client relationship management including website integration and reporting
- Advent Geneva -- provides complete portfolio accounting solution including general ledger reporting, performance measurement, and portfolio reporting