Paladyne and Thomson form distribution alliance
08 October 2007 | 1749 views | 0
Source: Thomson Financial
Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), and a leading provider of information and technology solutions to the global financial services industry, today announced a strategic distribution relationship with Paladyne Systems, a leading provider of technology solutions to the hedge fund marketplace.
As part of the distribution alliance, Paladyne will provide Thomson DataFeed (TDF), a real-time market and pricing data service directly to its customers. Paladyne will distribute the data through its PALADYNE product suite, a fully-hosted front- to back-office hedge fund solution; and Thomson Financial will act as the agency of record for all exchange level reporting requirements.
By integrating Thomson Financial's real-time market information into Paladyne's 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," said 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," said Ventura.
"We are pleased to partner with Paladyne Systems in offering our real time data through their innovative, ASP-based delivery model," said 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," said Burkley.
"This partnership with Thomson allows Paladyne to provide comprehensive real-time data in an easily deployable and streamlined manner," said 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," said Shalaby.