Bedford, Mass. and New York, June 26, 2007 – Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, and Paladyne Systems, LLC, a leading solutions provider for the hedge fund industry, today announced that Paladyne will utilize 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 profits and losses and portfolio management, portfolio accounting, custom reporting, data warehousing and analytics, and reference data management. By offering securities terms and conditions, corporate actions, and end-of-day pricing and evaluations data from Interactive Data Pricing and Reference Data within its hosted product suite, Paladyne can provide seamless and immediate access to data in order to meet the demanding operational and decision-support requirements of today’s hedge funds.
“We are very pleased to have integrated our pricing and reference data into Paladyne’s premier front-to-back office suite,” said Ray D’Arcy, president of sales, marketing and institutional business development, Interactive Data Corporation. “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 recognizing 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.”
“The relationship with Interactive Data makes our hosted PALADYNE suite more complete to the hedge fund industry,” said Sameer Shalaby, Chief Executive Officer, Paladyne Systems. “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.”
The PALADYNE suite is available either as a fully hosted solution or as an on-site local installation.
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global provider of financial market data, analytics and related services to financial institutions, active traders and individual investors. The Company’s businesses supply time-sensitive pricing, evaluations and reference data for more than 3.5 million securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial service and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management and valuation activities. Through its businesses, Interactive Data Pricing and Reference Data, Interactive Data Real-Time Services, Interactive Data Fixed Income Analytics, and eSignal, the Company has approximately 2,200 employees in offices located throughout North America, Europe, Asia and Australia. The Company is headquartered in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 62 percent of the outstanding common stock of Interactive Data Corporation.
Interactive Data Pricing and Reference Data provides global securities pricing, evaluations and reference data designed to support financial institutions’ and investment funds' pricing activities, securities operations, research and portfolio management. Interactive Data Pricing and Reference Data collects, edits, maintains and delivers data on more than 3.5 million securities, including daily evaluations for approximately 2.5 million fixed income and international equity issues. Interactive Data Pricing and Reference Data specializes in ‘hard-to-get’ information and evaluates many ‘hard-to value’ instruments.
Pricing, evaluations and reference data are provided in the U.S. through Interactive Data Pricing and Reference Data, Inc. and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data Corporation and its businesses, please visit www.interactivedata.com.
Interactive Data(SM) and the Interactive Data logo are service marks of Interactive Data Corporation.
About Paladyne Systems
Paladyne Systems, Inc. (www.paladynesys.com), a leading solutions provider for the hedge fund industry, develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organization. Paladyne offers a fully-hosted technology platform known as the PALADYNE™ suite which is capable of supporting the front- to back-office requirements of today’s most comprehensive hedge funds. The PALADYNE™ 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. Paladyne was formed through an acquisition of its technology platform from a large US-based multi-strategy hedge fund.
The PALADYNE suite includes the following modules:
- Paladyne Portfolio Master™ – provides order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
- Paladyne Analytics Master™ – 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.
- Advent Geneva® – provides complete portfolio accounting solution including general ledger reporting, performance measurement, and portfolio reporting as part of Paladyne’s hosted solution.
CONTACT:
Media Contacts
Scott Alderson, Paladyne US Sales
(212) 616-4306
salderson@paladynesys.com
David Simmonds, Paladyne European Sales
+44 (0) 20 7153 4958
dsimmonds@paladynesys.com
Lisa Jane O'Neil, Paladyne Media
212-786-7629 or 917-361-8303
lisajane@ljoassociates.com
Interactive Data Corporation
Andrew Kramer, Investors
(781) 687-8306
andrew.kramer@interactivedata.com
John Coffey , US Media
781-687-8148
john.coffey@interactivedata.com
Sue Mitchell , Europe Media +44 (0)20 7825 8076 sue.mitchell@interactivedata.com