Credit Suisse has teamed with New York-based investment technology vendor Paladyne to deliver a hosted multi-prime broker trading platform targeted at hedge funds.
The vendor says the Credit Suisse-Paladyne infrastructure will provide hedge funds with an integrated, multi-prime broker system as opposed to the "single-prime" technology platform restricting funds to one prime broker.
Paladyne says it's multi-asset order routing tools will be integrated to direct orders to any client-specific counterparty or to Credit Suisse's existing trading and execution platforms.
Credit Suisse clients will be able to access both the Paladyne technology platform - which includes portfolio, analytics, market data, CRM and accounting modules - and the existing Credit Suisse infrastructure.
Sameer Shalaby, Chief Executive Officer of Paladyne Systems comments: "Many hedge funds perceive they are locked into a single prime broker relationship due to technology. The Credit Suisse-Paladyne solution frees them to be truly independent of any one prime broker."