Paladyne Systems, a provider of technology solutions for the hedge fund industry, has announced that it will use data from Interactive Data’s pricing and reference data business in its fro
Paladyne Systems, a provider of technology solutions for the hedge fund industry, has announced that it will use data from Interactive Data’s pricing and reference data business in its front-to-back office hedge fund product suite.
The Paladyne product suite includes order management, real-time profit and loss and portfolio management, portfolio accounting, custom reporting, data warehousing and analytics, and reference data management.
It will henceforth offer securities terms and conditions, corporate actions, and end-of-day pricing and evaluations data from Interactive Data within its hosted product suite. The Paladyne suite is available either as a fully hosted solution or as an on-site local installation.
‘We are very pleased to have integrated our pricing and reference data into Paladyne’s premier front-to-back office suite,’ says Ray D’Arcy, president of sales, marketing and institutional business development at Interactive Data. ‘By working closely with Paladyne, we can provide a wide range of hedge funds with seamless access to our pricing and reference data.
‘It is exciting to see that hedge funds and the technology vendors that support them are increasingly recognising the importance of high-quality reference data within their operations. This relationship is yet another example of Interactive Data aligning itself with leading technology companies to provide financial institutions with comprehensive offerings that unite high-quality data and innovative software tools.’
Paladyne Systems chief executive Sameer Shalaby says: ‘The relationship with Interactive Data makes our hosted Paladyne suite more complete to the hedge fund industry. We are continually expanding the overall functionality of our hedge fund technology platform and by teaming with Interactive Data, we are able to provide our hedge fund customers with immediate access to comprehensive data across a full range of security types.’
Interactive Data is a leading global provider of financial market data, analytics and related services to financial institutions, active traders and individual investors, supplying time-sensitive pricing, evaluations and reference data for more than 3.5 million securities traded worldwide, including daily evaluations for approximately 2.5 million fixed income and international equity issues as well as hard-to-value instruments.
Through its pricing and reference data, real-time services, fixed income analytics and eSignal businesses, the firm has around 2,200 employees in offices across North America, Europe, Asia and Australia. Based in Bedford, Massachusetts, Interactive Data is majority owned by international media company Pearson, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group.
Paladyne Systems offers a fully hosted technology platform, the Paladyne suite, to supporting the front- to back-office requirements of hedge funds. The suite is an integrated set of applications including order management, portfolio management, portfolio accounting, global security master, analytics toolset, comprehensive portfolio pricing, custom reporting, and customer relationship management.