NEW YORK, NY – March 6, 2007 – Paladyne Systems, LLC today announced that it has licensed its PALADYNE™ product suite to Concept Capital (www.ConceptCapital.com), the Prime Brokerage Services division of Sanders Morris Harris Inc. Concept Capital provides accounting, administrative, proprietary trading, risk management, compliance and marketing solutions to hedge funds, proprietary traders and third-party marketers.
Concept Capital will use PALADYNE’s front- and middle-office software in conjunction with their existing portfolio accounting system, Advent Geneva®, resulting in a fully-integrated front- to back-office solution and a significantly expanded client service offering.
Concept Capital is implementing the PALADYNE suite as a local installation, and will directly host PALADYNE for external use by clients. Specifically, Concept Capital will offer their clients direct access to Paladyne’s front- and middle-office tools including order management, real-time P&L and portfolio management, data warehousing, custom reporting, and performance analysis, on a fully-hosted ASP (Application Service Provider) basis. The seamless integration of the PALADYNE suite with Concept Capital’s existing back-office accounting and risk infrastructure will streamline operations, improve the accuracy and timeliness of data and reporting, and significantly increase the scope and scalability of client services.
“In order to realize our vision of streamlined front- middle- and back-office full-service hedge fund services provider, we needed to complement our Advent Geneva® software with PALADYNE’s integrated suite of products,” said Mike Rosen, Managing Director of Concept Capital. “We believe that our service offering is truly unique, and with the PALADYNE infrastructure, we are now capable of servicing hedge funds of any size and complexity.”
“Our partnership with Concept Capital is another step forward in our vision to provide powerful technology solutions to the underserved small- and medium-size hedge funds,” said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. “Our comprehensive product suite scales to the needs of both start-ups and multi-strategy, global hedge funds, allowing manager’s of all sizes to increase operational efficiencies, improve firm-wide reporting, and minimize operational risk ,” said Mr. Shalaby.
About Concept Capital
Concept Capital (www.ConceptCapital.com), the Prime Brokerage Services division of Sanders Morris Harris Inc., provides accounting, administrative, proprietary trading, risk management, compliance and marketing solutions to hedge funds, proprietary traders and third-party marketers. Our mission is to enable clients to customize our services on an as-needed basis to accommodate growth regardless of investment style and asset size. Concept Capital has 30 employees and is headquartered in New York City with offices in Greenwich, Connecticut, Garden City, New York, Los Angeles, California and Houston, Texas.
Sanders Morris Harris Inc., Member NASD/SIPC is a subsidiary of Sanders Morris Harris Group (NASDAQ: SMHG), a financial services holding company headquartered in Houston, managing more than $10 billion in client assets. SMHG provides a full range of asset and wealth management, investment banking, and institutional services. Its operating entities include Sanders Morris Harris, Concept Capital, The Edelman Financial Center, Kissinger Financial Services, Salient Capital, SMH Capital Advisors, Select Sports Group, and SMH Partners. SMHG has more than 550 employees in 20 states. For additional information on Sanders Morris Harris Group please visit www.smhgroup.com.
