“Paladyne is working to accelerate sales across the Americas, EMEA and Asia Pacific, and Bill brings the necessary experience to lead our business development efforts globally,” said Sameer Shalaby, President, Paladyne Systems. “He will be instrumental in extending Paladyne’s unique solutions to new and existing clients across the buy-side industry.”

Most recently Managing Director and Global Head of Sales at GlobeOp Financial Services, Mr. Kelly brings more than 30 years of experience in complex financial services and technology sales and business development to Paladyne. He will be responsible for growing Paladyne’s client base across the buy-side.

Currently, Paladyne provides solutions to over 200 clients, including hedge funds of all sizes and trading strategies, hedge fund administrators, and broker-dealers.

“I am excited to join the team at Paladyne at this moment in the company’s evolution,” said Mr. Kelly. “Paladyne has built a very powerful integrated front-, middle- and back-office platform that is a truly differentiated offering in the industry. In the current regulatory and fiscal climate, this value proposition is extremely attractive.”

Mr. Kelly has held positions at AllianceBernstein, RogersCasey and Comdisco. He started his career at IBM.

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Lisa Jane O’Neil
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Meanwhile, a tough business environment means trimming fund expenses to remain competitive and attract investors.

Not for the first time, technology is providing a way out. More than ever managers are looking to their fund administrators for institutional-grade platforms to meet exacting and sophisticated investor due diligence and solve the cost conundrum through outsourcing. In response, fund administrators have invested significantly in technology over the past few years and now compete with each other to offer client facing tools to the fund manager.

Paladyne has responded with a distinct solution to lead the industry – a bold integrated solution combining front- and middle-office technology in a seamless interface between administrator and manager. It spans trading and portfolio management, order management, compliance, real-time profit and loss and risk reporting, shadow accounting and daily and automated reconciliation.

Fund managers get best-in-class technology on their desktop and a route to cost effective outsourcing. An integrated order management, portfolio management and risk reporting solution means one channel to technology and middle office services, including real-time visibility of holdings, liquidity and risk management. This meshes with the managers’ existing technology at one end and the fund administrator at the other, opening up additional outsourcing options for further cost savings.

Investors get the reassurance of a third party providing independent accounting on a daily basis, rather than just at month-end. Real-time reporting of profit and loss and risk means a materially enhanced level of transparency and responsiveness. The result is a smooth ride for managers through investors now-routine on-site visits to observe month-end processing, test trade oversight and cash movement, and measure the robustness of liquidity to extreme market events. And with greater visibility into compliance, investors get a clear look-through at the manager’s adherence to investment management mandates, risk requirements and the slew of new European and US regulations.

Automatic reconciliation spurs the drive to get rid of manual input from the more exotic trades without straining existing IT infrastructure. The pain is removed from tasks – from derivatives setup to trade and position reconciliation – letting managers take on larger allocations without extra work. New mandates requiring more complex trades and instruments can be seamlessly sewn in, with no operational disruption and the same high level of client transparency.

Paladyne’s solution is a crucial resource in the fund managers’ current quest to deliver more to investors and regulators on a tighter budget. By combining front- middle- and back-office into a single package, it leads its peers in providing a cost efficient solution to the pressing need for independent books and records and accounting.

 Butterfield Fulcrum’s latest technology offering leverages Paladyne ClientLink™, a client-facing front- and middle-office solutions platform for fund administrators including electronic trading and order management, compliance, real-time profit and loss and risk reporting, portfolio management and automated reconciliation. Paladyne ClientLink is a fully integrated add-on to Butterfield Fulcrum’s existing IT infrastructure providing a seamless interface between the fund manager and the administrator. With this shared services and technology platform, fund managers have a complete trading and portfolio management solution bundled with a full daily services offering across the entire trade lifecycle from trade execution and real-time portfolio reporting to cash management and daily reconciliation.

 “With the implementation of Paladyne ClientLink, our existing and prospective clients now have a unique outsourced technology platform that allows us to provide enhanced services across the entire trading lifecycle and operational workflow of a fund manager,” said Chris Mulhern, COO and President, Butterfield Fulcrum. “Our clients can now extend the role of their independent fund administrator into the middle-office as well as employ best in class front-end trading and portfolio management technology.”

“Today’s fund managers are relying more and more on their fund administrators to provide technology solutions that help them run their daily trading and operations, while streamlining the data communication and aggregation among their various counterparties,” said Sameer Shalaby, President, Paladyne Systems, a Broadridge Company. “Paladyne ClientLink is an ideal cost-effective solution for managers that require multiple prime broker relationships that want to focus on their investment decisions while relying on their fund administrator to manage their middle/back-office.”

“We are pleased to partner with Paladyne Systems and offer our clients a superior technology solution that is fully integrated with our fund administration model,” said Glenn Henderson, CEO of Butterfield Fulcrum. “Paladyne has developed an industry standard technology platform for the fund administration sector that vastly improves operational efficiencies for fund managers, and we are pleased to service our clients with the Paladyne ClientLink platform.” 

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Lisa Jane O’Neil
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lisajane@ljoassociates.com

About Butterfield Fulcrum

 Butterfield Fulcrum is a leading independent services provider with 25 years of experience servicing clients in the alternative investment industry.  Butterfield Fulcrum provides a full service fund administration offering including front, middle and back office solutions to hedge funds, fund of funds, managed accounts, family offices, private equity and real estate funds.    The company services more than 800 funds and has 10 offices in nine countries and employs over 500 people.  For more information, please visit www.bfgl.com.

LAKE SUCCESS, N.Y., Oct. 12, 2011 – Paladyne Systems, a Broadridge Company, a leading provider of next generation investment management solutions, today announced that Boyer Allan Investment Management, a leading specialist manager of Asian equity absolute return funds, has replaced its legacy technology vendor with the Paladyne Suite, a state of the art investment management platform.

Boyer Allan, which was established in 1998 and has offices in Hong Kong and London, required a solution that addressed the growing complexity of their business. The firm currently manages eight funds focused on Asia Pacific for institutional clients requiring support from multiple prime brokers, four fund administrators and a connection with multiple trade end execution systems including Omgeo, Bloomberg Port and Tora.

Guy Commaille, COO of Boyer Allan, said, “We have high demands on our systems and Paladyne offered Boyer Allan a full front-to-back office investment management platform that far surpassed, in functionality and flexibility, any other solution in the marketplace. Working with the very experienced and knowledgeable client services team in Hong Kong, we were able to rapidly implement the Paladyne Suite and replace our existing technology vendor. We have many systems and partners that we needed to integrate with and the Paladyne team provided a rapid and seamless transition. We have been able to automate many tasks, and the flexibility of the system allowed us to instantly implement data/analysis for our portfolios in real-time. We now have performance attribution models which offer greater insight into actual performance than before.”

Sameer Shalaby, President of Paladyne Systems, added, “We are pleased to work with Boyer Allan to deliver a solution that meets their needs as a well-established and sophisticated large asset management firm. Hedge funds in the Asia-Pacific region are seeking solutions that can deal with the complexities of their front-office and trading desks, as well as reach across the middle- and back-office, combining comprehensive data aggregation, reporting and reconciliation tools for the client.”

Boyer Allan licensed the Paladyne Suite, including Paladyne Portfolio Master™ and Paladyne Analytics Master™, an integrated set of software components for managing the lifecycle of orders, positions, and reference data. Paladyne’s solution provides industry-leading functionality for real-time profit and loss calculation, compliance monitoring, model-based valuation, equity short-availability sourcing, firm wide reporting, automated counterparty communication, and position maintenance event processing.

In addition to the general suite, Paladyne was able to offer Boyer Allan performance models, including industry standard time-weighted return and other performance statistics.  The Paladyne client services team also set up automated procedures to help with the fund administration NAV reconciliation and is currently working with Boyer Allan to further streamline this process.

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Lisa Jane O’Neil
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“The acquisition of Paladyne will significantly expand Broadridge’s position as a service provider to buy-side clients,” stated Richard J. Daly, Chief Executive Officer, Broadridge. “Buy-side firms purchase nearly 40% of capital markets technology and services and represent a segment of virtually untapped opportunity for Broadridge. Paladyne will serve as the foundation for the expansion of Broadridge’s buy-side offering, enabling us to bring Paladyne’s unique solutions to hedge funds, our existing prime brokerage clients, asset managers, hedge fund administrators and other asset servicers.”

“Broadridge has exceptional client loyalty and an outstanding reputation for service, dependability, and cost effectiveness. Broadridge’s extensive reach in the global financial services community and its global sales and distribution capabilities will enable Paladyne to expand significantly into new and existing market segments,” said Sameer Shalaby, Chief Executive Officer, Paladyne Systems. “Broadridge’s proven sell-side solutions and client-focused services in combination with Paladyne’s innovative buy-side technology creates one of the most comprehensive technology and services offerings within the financial services industry.”

Charlie Marchesani, President, Securities Processing Solutions, Broadridge, commented, “We believe that Broadridge is uniquely positioned to offer technology and outsourcing services to the hedge fund, asset management, fund administration, prime brokerage and custodial industry segments. The trust Broadridge has earned with our sell-side relationships and the neutral and independent role we hold in the industry will position us for success on the buy-side.” He added, “We proudly welcome the talented, visionary team at Paladyne. Working with Paladyne, we look forward to continuing to provide innovative solutions to existing and future clients on both the buy- and sell-sides. Paladyne Systems will operate as a core business within Broadridge’s Securities Processing Solutions division.”

Paladyne’s integrated front-, middle- and back-office platform provides hedge funds, asset managers, fund administrators and prime brokers with mission critical applications to streamline and manage their business. Paladyne’s platform includes multi-asset class order and portfolio management tools; reference data, pricing and valuation management applications; and data warehousing for firm-wide data aggregation and reporting. Paladyne combines its technology with a fully-hosted, managed IT platform.

Raymond James & Associates acted as exclusive financial advisor to Broadridge in this transaction. Credit Suisse provided strategic advice to Paladyne in connection with the transaction.

 DAP clients will receive a number of key benefits from Paladyne FastStart:

•  Turn-key technology platform:  Paladyne FastStart is a complete front- to back-office technology solution for hedge fund managers including: end-to-end electronic trading, order management, pre/post-trade compliance, real-time P&L monitoring, position keeping and portfolio management, firm-wide reporting and automated reconciliation to 3^rd-party counterparties such as prime brokers and fund administrators. Paladyne FastStart is a fully hosted ASP solution including hardware, connectivity, 24×7 IT support and full disaster recovery, which allows hedge funds to operate their businesses at minimal cost with no IT infrastructure requirements.

• Broker-neutral platform:  Paladyne FastStart provides hedge funds a true multi-prime trading and portfolio management solution that is broker-neutral and provides full operational support for any combination of prime brokers and service provider relationships.

• Managed account platform:  Paladyne FastStart provides full operational support for managed accounts with flexible trade allocation, compliance monitoring, automated reconciliation, and firm-wide aggregated reporting across all funds and managed accounts. 

 The two firms will host a webinar on July 28, 2011 to discuss the joint offering.

Ben Chinea, CEO of Direct Access Partners, commented: “Paladyne has set the technology gold standard.  We are committed to provide our clients the best value – be it capital raising or trading solutions. The increase of institutional investment in hedge funds requires that our clients have world-class operations and technology solutions.  Paladyne is the leading provider to these firms and we are pleased to provide our trading and prime brokerage customers the Paladyne FastStart solution.” 

Sameer Shalaby, CEO of Paladyne Systems, said: “Direct Access Partners has earned the respect and loyalty of its clients by providing value through its institutional trading and capital raising capabilities.  DAP clients who leverage Paladyne are at a distinct competitive advantage in terms of capital raising and operational efficiency.”

About Direct Access Partners, LLC:

Direct Access Partners, LLC is a customer focused, multi-asset class trading partner to a broad range of clients. Direct Access Partners clears and executes in 115 international markets providing anonymity through a diverse set of high-touch and electronic execution options. Direct Access Partners has offices in New York, Boston, Miami and a significant presence on the NYSE trading floor.

The firm has a strong operational foundation and technology platform and provides a wide range of trading-related services including global prime service, independent research and commission management. The Capital Alternatives Group offers hedge fund clients a unique, integrated capital introduction and capital raising solution.  The high-touch/high-tech approach powered by the firm’s entrepreneurial spirit characterize Direct Access Partners’ successful independent brokerage model. 

Direct Access Partners received Minority Business Enterprise (MBE) status in 2007 and has been certified by numerous states, county and city pension plans as well as active membership in numerous regional minority business councils.

For more information about Direct Access Partners, please refer to our website at www.daptrading.com.

http://www.paladyne.com/wp-content/uploads/DAP_Paladyne_flyer_v7.pdf

Media Contacts

Lisa Jane O’Neil
212 – 786-7629 or  917-361-8303
lisajane@ljoassociates.com