Solution Being Offered Within Credit Suisse Advanced Prime Hedge Fund Platform
Thomson Financial is to distribute market data through Paladyne Systems, a hedge technology vendor best-known for its strategic partnership with the prime brokerage arm of Credit Suisse.
As part of the distribution alliance, Paladyne will provide Thomson DataFeed (TDF), a real-time market and pricing data service, directly to its hedge fund customers via a fully-hosted front- to back-office service. Thomson Financial will act as the agency of record for all exchange level reporting requirements.
Paladyne reckons that, by integrating Thomson Financial’s real-time market information into its order management and portfolio management tools, clients will have more comprehensive data for electronic trading, order management, and real-time P&L and position tracking.
Thomson and Paladyne have developed and implemented a new delivery model enabling Paladyne to offer direct real-time pricing to clients, with Thomson retaining responsibility as the agent for the exchanges.
“We are delighted that Paladyne and Thomson have entered into this strategic relationship since it will impact our prime services customer base,” says Sal Ventura, Managing Director of Prime Services at Credit Suisse. “We offer Paladyne’s trading and real-time P&L tools within our Advanced Prime hedge fund platform, so our customers will benefit from this strategic alliance.”
“We are pleased to partner with Paladyne Systems in offering our real time data through their innovative, ASP-based delivery model,” adds Matthew Burkley, President, Enterprise Solutions, Thomson Financial. “This relationship gives Thomson more direct access to the hedge fund marketplace and enables Paladyne to enhance their overall service offering to their customers.”
“This partnership with Thomson allows Paladyne to provide comprehensive real-time data in an easily deployable and streamlined manner,” says Sameer Shalaby, CEO of Paladyne Systems. “Both our current and new clients will gain immediate access to Thomson’s real-time data through our hosted product offering.”
Paladyne offers hedge funds order management, real-time profit and loss and portfolio management, portfolio accounting, custom reporting, data warehousing and analytics, and reference data management.