SOURCE: Paladyne

Paladyne

Paladyne

July 26, 2011 08:04 ET

Direct Access Partners and Paladyne Systems Team to Provide Comprehensive Trading and Technology Solution for Emerging to Mid-Sized Hedge Funds

NEW YORK, NY--(Marketwire - Jul 26, 2011) - Direct Access Partners, LLC, (DAP), a leading multi-asset class trading and prime brokerage firm, and Paladyne Systems, Inc., the leading provider of next generation investment management solutions, today announced a strategic relationship to provide Paladyne's turn-key technology solution, Paladyne FastStart™, directly to clients of Direct Access Partners. The combined offering provides emerging to medium-sized fund managers with a cost-effective institutional-grade technology solution that streamlines their trading and operations as well as enhances their ability to address due diligence concerns in today's demanding capital raising environment.

DAP clients will receive a number of key benefits from Paladyne FastStart:

  • Turn-key technology platform: Paladyne FastStart is a complete front- to back-office technology solution for hedge fund managers including: end-to-end electronic trading, order management, pre/post-trade compliance, real-time P&L monitoring, position keeping and portfolio management, firm-wide reporting and automated reconciliation to 3rd-party counterparties such as prime brokers and fund administrators. Paladyne FastStart is a fully hosted ASP solution including hardware, connectivity, 24x7 IT support and full disaster recovery, which allows hedge funds to operate their businesses at minimal cost with no IT infrastructure requirements.

  • Broker-neutral platform: Paladyne FastStart provides hedge funds a true multi-prime trading and portfolio management solution that is broker-neutral and provides full operational support for any combination of prime brokers and service provider relationships.

  • Managed account platform: Paladyne FastStart provides full operational support for managed accounts with flexible trade allocation, compliance monitoring, automated reconciliation, and firm-wide aggregated reporting across all funds and managed accounts.

The two firms will host a webinar on July 28, 2011 to discuss the joint offering.

Ben Chinea, CEO of Direct Access Partners, commented, "Paladyne has set the technology gold standard. We are committed to provide our clients the best value -- be it capital raising or trading solutions. The increase of institutional investment in hedge funds requires that our clients have world-class operations and technology solutions. Paladyne is the leading provider to these firms and we are pleased to provide our trading and prime brokerage customers the Paladyne FastStart solution."

Sameer Shalaby, CEO of Paladyne Systems, said, "Direct Access Partners has earned the respect and loyalty of its clients by providing value through its institutional trading and capital raising capabilities. DAP clients who leverage Paladyne are at a distinct competitive advantage in terms of capital raising and operational efficiency."

About Direct Access Partners, LLC:

Direct Access Partners, LLC is a customer focused, multi-asset class trading partner to a broad range of clients. Direct Access Partners clears and executes in 115 international markets providing anonymity through a diverse set of high-touch and electronic execution options. Direct Access Partners has offices in New York, Boston, Miami and a significant presence on the NYSE trading floor.

The firm has a strong operational foundation and technology platform and provides a wide range of trading-related services including global prime service, independent research and commission management. The Capital Alternatives Group offers hedge fund clients a unique, integrated capital introduction and capital raising solution. The high-touch/high-tech approach powered by the firm's entrepreneurial spirit characterize Direct Access Partners' successful independent brokerage model.

Direct Access Partners received Minority Business Enterprise (MBE) status in 2007 and has been certified by numerous states, county and city pension plans as well as active membership in numerous regional minority business councils.

For more information about Direct Access Partners, please refer to our website at www.daptrading.com.

About Paladyne Systems

Paladyne Systems, Inc. (www.paladyne.com), 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 150 clients worldwide. The firm has approximately 160 employees, and is headquartered in New York, with regional offices in New Jersey, London, Russia and Hong Kong.

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