Options IT, provider of the Options PIPE Private Financial Cloud services platform for the exchange, banking, trading and investment communities, has reported a strong surge in demand in 2011 among hedge fund managers for its PIPE Core financial office delivery and support service.
Options IT signed 16 PIPE Core hedge fund clients across North America, Europe and Asia, representing nearly 350 new end users of the service in 2011. The solid growth in demand indicates a sustained recovery in the alternative investment management space globally and a continued adoption of on-Demand technology infrastructure services like Options IT’s Private Financial Cloud services platform.
The Options PIPE Core solution is a complete financial office delivery and support service providing a robust and resilient technology foundation for day-to-day business communication, regulatory compliance and operations management. PIPE Core is one of three Private Financial Cloud offerings on the Options PIPE platform.
PVE Capital, a London-based macro credit fund manager that was set up in June 2009, migrated to the PIPE Core service in 2011. Joe Vittoria, Founding Partner and Chief Operating Officer, says: "Through our migration onto the Options PIPE Core service, we receive a robust global technology infrastructure that can scale with our business. We have operations in multiple geographic regions, so it becomes much easier to manage the business with this service. It’s a technology model that we think will become increasingly prevalent going forward."
"During the past few years, hedge fund managers have had to respond to increasing regulatory and investor demands for a more robust operational infrastructure, which requires a significant upfront investment and on-going platform management," says Nigel Kneafsey, CEO at Options IT. "Options PIPE platform services are engineered and delivered to meet investor and regulatory requirements placed on hedge funds, providing a resilient and fully managed enterprise-strength solution delivered on-demand to the client, allowing them to focus on their core business of investment management."
The Options PIPE platform is a fully managed global financial technology infrastructure service providing ultra-low latency market data, execution connectivity, co-located managed hosting for financial applications and a complete financial office solution for financial services firms.
