AlphaDesk, a cloud-based Order Management and Portfolio Management System provider to hedge funds and other investment managers, posted record new business sales for the first half of 2017.
Kevin Galliers, COO, says: “We signed 36 new hedge funds during the first half of 2017, which is significantly greater than any other six-month period since the firm’s inception. Interestingly, 40 per cent of our new business was the result of competitor replacements, with the rest being upgrades from manual processes and new hedge fund launches. The market is now fully embracing the significant cost savings associated with software that is deployed via the public cloud. But it doesn’t stop there – Portfolio Managers and COO’s can focus on their day job, released from the overhead of managing multiple disparate systems.
“There are two other drivers for change – in the US, the growing use of outsourced services, and in Europe, MiFID II. Since our technology is ideally suited for partnering, and we are ready for MiFID II, I expect we will post further growth in the second half of the year.”
