NEW YORK, NY and SAN FRANCISCO, CA and LONDON--(Marketwire - 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."
About Paladyne Systems
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, and
strategy-based performance tracking.
-- 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.
Contact Information: Paladyne Systems - Sales
Scott Alderson
Phone: 646-214-4306
Email: salderson@paladyne.com
Paladyne Systems - Media
Lisa Jane O'Neil
Phone: 212-786-7629 or 917-361-8303
Email: lisajane@ljoassociates.com