The ASP model is a new delivery channel for the proven H-Fund software and puts the power of H-Fund onto the desktop of the traders without the need for an in-house IT server platform. Two Bahamas-based hedge fund customers, Karla Derivatives Strategies Fund Ltd and EIM Ltd have already migrated to the H-Fund ASP version.

"This development was a response to feedback from our customers and the market for functionally rich systems to support hedge fund trading at a competitive price. The small to medium sized hedge fund managers are looking for more cost effective solutions to their trading requirements. With our ASP model, we can provide managed, easy to budget, reliable and secure access to H-Fund, from any location at an affordable price," said Graham Bright, Managing Director of Financial Tradeware.

The ASP model provides the full functionality of H-Fund to any fund manager who has an internet connection and a web browser via secure ID and password authentication. It supports remote working and replaces the need for installing and maintaining infrastructure on every PC or server at every business location. This is of particular benefit to small hedge funds and start-ups as they can concentrate on the core business of trading and investment management without needing dedicated in-house technical and communications resources.

There are significant cost benefits to this new delivery mechanism for H-Fund as there are no up-front capital costs. For the duration of the contract with Financial Tradeware, customers benefit from a trading solution that is regularly updated with new releases, constantly maintained and supported, all of which takes place in the background with minimal impact on the customer.

The enablement of the ASP model comes via an industry standard Citrix environment. With full disaster recovery built in and Service Level Agreements that guarantee system access, customers have peace of mind that they are buying a secure and reliable trading system. Hedge fund managers can be confident that they can execute trades whilst accounting, settlement and reconciliation are automatically taken care of by H-Fund.

Future developments are planned for H-Fund, allowing users to access trading and reporting functionality via PDA devices such as the Blackberry.

"By removing the need for additional servers or software as the company grows, H-Fund can accommodate all future growth requirements. We have received a very positive reaction already. The smaller hedge fund manager is able to take advantage of functionality that previously was only available to larger institutions. Hedge funds appreciate the cost benefits whilst also buying into a simple growth and upgrade path," concluded Bright.