By pcurley on July 13, 2010
New York, London, and Hong Kong, July 13th, 2010 – Paladyne Systems, Inc., a leading provider of technology and services to the global hedge fund industry, today announced that Virgo Investment Group, L.P., a Palo Alto-based alternative investment management firm, with offices in New York and Melbourne, Australia, has successfully implemented Paladyne Credit Master™ to support the trading and administration of its bank loan portfolio.
Paladyne Credit Master™ is a comprehensive solution for managing the entire lifecycle of bank debt trading and operations, featuring portfolio analysis and trading tools, user-defined allocation rules, client-specific settlement and closing workflow designer, rules-based compliance, document management, pricing, and comprehensive portfolio reporting and accounting. Paladyne Credit Master™ is integrated with the Paladyne suite of products for a complete multi-asset class solution, as well as with both Advent’s Geneva® and SunGard’s VPM™. The solution is available either as a fully hosted, Application Service Provider (“ASP”) solution using Paladyne ASP™ or as a local installation.
“Paladyne Credit Master™ was the only solution that we found that could support the entire workflow of our specialty lending and bank debt portfolio,” said Jesse Watson, Managing Partner at Virgo Investment Group.
“We were able to implement Paladyne’s hosted platform, Paladyne ASP™, in a matter of weeks which significantly reduced our total cost of ownership,” said Bob Racusin, Virgo’s Head of Operations. “Virgo’s investment operations platform is focused on redundancy, procedural checks and balances, and scalability, and Paladyne Credit Master™ helps us to achieve these goals particularly for the middle-market specialty lending activities of our business.”
“Paladyne Credit Master’s breadth of functionality combined with its ASP deployment is proving to be an attractive alternative to many firms in the bank loan trading marketplace,” said Sameer Shalaby, CEO of Paladyne Systems. “Additionally with loan data becoming more commoditized, funds are now focusing on technology rather than data, as a means to enhance their operational processes around loan trading and administration.”
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.
