Contact Information: CONTACT: Media Lisa Jane O'Neil 1-212-786-7629 or 917-361-8303 lisajane@ljoassociates.com Sales Scott Alderson US Sales (212) 616-4306 salderson@paladyne.com Jonathan Cross European Sales +44 (0) 20 7153 4958 jcross@paladyne.com Eric Royer Asia Pacific Sales +852 3180 9237 eroyer@paladyne.com
Paladyne Expands Technology Offering With Acquisition of Oakwood Financial
Paladyne Launches Credit Master(R), a Comprehensive Bank Loan Management Solution
| Source: Paladyne
NEW YORK, NY and LONDON and HONG KONG--(Marketwire - December 2, 2009) - Paladyne Systems,
Inc., a leading solutions provider to the global hedge fund industry, today
announced it has acquired Oakwood Financial Technologies, LLC ("Oakwood"),
a software company providing loan management, administration, and trading
solutions for participants in the loan origination and syndicated loan
markets. This deal expands the Paladyne technology platform with the
introduction of Paladyne Credit Master®, a global bank loan technology
and services offering.
"In response to the growing demand for technology solutions in the loan
marketplace, Paladyne has released a complete front-to-back office solution
for trading and administering complex bank loan and structured deal
portfolios," says Sameer Shalaby, CEO of Paladyne Systems. "Paladyne Credit
Master® brings innovative and flexible technology to a manually-intensive
loan market which will significantly reduce cost and operational risk for
firms trading and supporting this asset class."
Paladyne Credit Master®, which is based on Oakwood's technology, provides
complete trading and operational support for bank loan processing including
front-office portfolio analytics, trade capture and global transaction
entry, settlement and closing, multi-currency accounting and P&L reporting,
cash management, compliance and document warehousing. Paladyne Credit
Master® may operate as a stand-alone application or in combination with
the Paladyne product suite for a complete multi-asset class solution. For
firms using an accounting system, Paladyne Credit Master® has been
tightly integrated into both Advent's Geneva® and SunGard's VPM™
including complete facility and credit contract data, global transactions,
pricing, and detailed daily accounting entries.
Oakwood was founded in 2007 by hedge fund technology veteran, John Rizzo,
who has spent 12 years developing loan management and trading solutions for
hedge funds, most recently as the CTO of DB Zwirn. The Oakwood solution was
built using industry standard technology and an open and accessible
architecture for easy data extraction, integration, and flexible reporting.
Paladyne Credit Master® may be deployed as a local installation or
accessed remotely as part of Paladyne hosted technology platform.
"As bank debt continues to gain momentum as an investment strategy, fund
managers require more technology solutions to effectively monitor their
portfolios and control operating costs," said John Rizzo, CEO of Oakwood
Financial Technologies. "The combination of Paladyne Credit Master® with
the other Paladyne products provides customers with a highly efficient and
cost-effective solution for managing the entire lifecycle of bank loan
trading as well as all other asset classes."
The Oakwood team is now located in Paladyne's New York City office, and
John Rizzo has been appointed as Vice President of Loan Products and
Services. Terms of the deal were not disclosed.
About Paladyne Systems, Inc.
Paladyne Systems, Inc. (www.paladyne.com), a leading provider of technology
and services to the global hedge fund industry, develops and distributes
products 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: trading and order management,
portfolio management, portfolio accounting, global security master, data
warehousing and custom reporting, pricing and valuation, and automated
reconciliation. 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 electronic trading, order
management and allocation, portfolio management, real-time P&L, pre- / post
trade compliance, modeling and NAV reporting.
Paladyne Credit Master® - provides loan processing and administration to
fully support loan trading, analysis, reporting, and management.
Paladyne Analytics Master® - provides portfolio analysis, data
aggregation, custom reporting, and automated reconciliation 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.