Banking group Citi has unveiled Hedge Fund Middle Office, a suite of operational solutions for hedge funds operating in North America, Latin America, Europe and Asia-Pacific.
Hedge Fund Middle Office includes a range of scalable, modular post-trade and pre-settlement services. The services are global and include technology solutions that help manage daily trade processing and profit-and-loss reporting, over-the-counter confirmation and valuation, collateral management, corporate action processing and cash management.
In addition, the solution allows hedge funds to move to a more variable operational cost model, which Citi said is an attractive feature in the current cost-constrained environment.
With the addition of Hedge Fund Middle Office, Citi’s Global Transaction Services unit now offers an end-to-end hedge fund servicing platform. Solutions include administration, custody and OpenPrime, a portfolio management and order management system that is prime broker agnostic.
“The Hedge Fund Middle Office service has been designed to improve operational efficiency and transparency for hedge fund managers by providing independent third party operations,” said Chandresh Iyer, head of global custody and investment administration services at Citi, in a statement. “It can be used either on a stand-alone basis, or in conjunction with Citi’s suite of Hedge Fund Administration services.”