Solution Being Offered Within Credit Suisse Advanced Prime Hedge Fund Platform
NEW YORK, NY, October 8, 2007 – Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), and a leading provider of information and technology solutions to the global financial services industry, today announced a strategic distribution relationship with Paladyne Systems, Inc., a leading provider of technology solutions to the hedge fund marketplace. As part of the distribution alliance, Paladyne will provide Thomson DataFeed (TDF), a real-time market and pricing data service directly to its customers. Paladyne will distribute the data through its PALADYNE™ product suite, a fully-hosted front- to back-office hedge fund solution; and Thomson Financial will act as the agency of record for all exchange level reporting requirements.
By integrating Thomson Financial’s real-time market information into Paladyne’s order management and portfolio management tools, clients will have more comprehensive data for electronic trading, order management, and real-time P&L and position tracking. Thomson and Paladyne have developed and implemented a new delivery model enabling Paladyne to offer direct real-time pricing to clients, with Thomson retaining responsibility as the agent for the exchanges.
“We are delighted that Paladyne and Thomson have entered into this strategic relationship since it will impact our prime services customer base,” said Sal Ventura, Managing Director of Prime Services at Credit Suisse. “We offer Paladyne’s trading and real-time P&L tools within our Advanced Prime™ hedge fund platform, so our customers will benefit from this strategic alliance,” said Ventura.
“We are pleased to partner with Paladyne Systems in offering our real time data through their innovative, ASP-based delivery model,” said Matthew Burkley, President, Enterprise Solutions, Thomson Financial. “This relationship gives Thomson more direct access to the hedge fund marketplace and enables Paladyne to enhance their overall service offering to their customers,” said Burkley. “This partnership with Thomson allows Paladyne to provide comprehensive real-time data in an easily deployable and streamlined manner,” said Sameer Shalaby, CEO of Paladyne Systems. “Both our current and new clients will gain immediate access to Thomson’s real-time data through our hosted product offering,” said Shalaby.
The PALADYNE suite is available either as a fully hosted solution or as an on-site local installation. 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.
About Thomson Financial
Thomson Financial, with 2006 revenues of US$2 billion, is a provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a global leader in providing essential electronic workflow solutions to business and professional customers. With operational headquarters in Stamford, Conn., Thomson provides value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare. The Corporation’s common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
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.
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
Thomson Financial
Janice Addams, Senior Manager, Public Relations
646-822-2826
Janice.addams@thomson.com