Giant hedge fund administrator Citco has migrated $1 trillion worth of assets under administration onto the cloud with AWS.
The Citco group of companies has moved all its clients using Æxeo - its straight-through, proprietary front-to-back office solution - from its physical data centres to AWS over the past 18 months.
In total, Citco has migrated more than 550 clients, including 10,000 accounts and some 1.2 billion orders.
The move means all of Citco’s hedge fund and hybrid clients now have a secure cloud service, which streamlines the administration of their portfolios, says the group.
Albert Bauer, MD, Citco Fund Services (USA), says: "The migration of such a vast number of clients is a large undertaking for any business, and our success is testament to the hard work and dedication of our team in completing what has been a historic accomplishment.”