By pcurley on September 8, 2009
New York, San Francisco, and London, September 8, 2009 – Paladyne Systems, Inc., a leading provider of technology and services to the global hedge fund Industry, today announced that ING Global Investment Strategies has successfully implemented the PALADYNE® product suite as its front-, middle-, and back-office solution. ING Global Investment Strategies licensed Paladyne’s ASP (“Application Service Provider”) platform, a combined software, hosting and managed IT solution. ING Global Investment Strategies also licensed Advent’s Geneva® as its global accounting engine, and Paladyne completed the implementation of Geneva® in combination with the PALADYNE® suite of products.
ING Global Investment Strategies implemented the full PALADYNE® product suite beginning with Paladyne Security Master® and Paladyne Price Master® as its centralized reference data management solution for security terms and conditions, corporate actions, and pricing. Advent’s Geneva® was implemented as the general ledger in combination with Paladyne Analytics Master® for data aggregation, custom reporting, and automated reconciliation. Lastly, Paladyne Portfolio Master® was introduced as a new trade capture and real-time profit and loss system consolidating FIX messages from external trading systems onto a centralized trade blotter for automated trade allocation and intra-day reporting. The existing integration of the Paladyne products with Geneva® provides ING Global Investment Strategies with a seamless straight-through processing solution.
By leveraging Paladyne’s ASP offering combined with their managed IT resources and existing market data vendor relationships, ING Global Investment Strategies was able to go into production in a very short timeframe and at a significantly lower total cost of ownership as compared to an in-house solution.
“We are pleased to partner with ING Global Investment Strategies as a strategic ASP client with comprehensive operational, compliance, and reporting requirements.” said Sameer Shalaby, CEO of Paladyne Systems. “ING Global Investment Strategies completed a complex audit of our hosting facilities as part of their mandatory IT due diligence process and realized that the usage of our data center facilities and hosted platform to run their business met their operational requirements.”
Posted in Press Releases
About Paladyne Systems
Paladyne Systems, a Broadridge Company, is the leading provider of next generation investment management solutions. Paladyne offers its integrated front-, middle- and back-office platform, known as the Paladyne Suite™, to hedge funds, asset managers, fund administrators and prime brokers. The modular Paladyne Suite™ includes order management, portfolio management, reference data management, data warehouse reporting and reconciliation and is complemented by the Paladyne Network™, which comprises a select group of preferred strategic partnerships with leading software and market data firms. The solution can be delivered onsite or via Paladyne's industry-leading application service provider solution, Paladyne ASP™. Paladyne was established in 2005 and now serves over 180 clients worldwide. The firm has approximately 165 employees, and is headquartered in New York, with regional offices in New Jersey, London, Russia and Hong Kong.
The Paladyne® Suite includes the following modules:
- Paladyne Portfolio Master™ — provides electronic trading, order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
- Paladyne Credit Master™ — provides loan processing and administration to fully support loan trading, analysis, reporting, and management.
- 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 time series analysis of prices and market data from any third-party sources.
About Broadridge
Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $4 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge, please visit www.broadridge.com.
