Markit Group Limited (Markit), the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets, and Paladyne Systems, a leading solutions provider for the hedge fund industry, today announced the certified integration of Markit's credit pricing and reference entity data into the PALADYNE suite of products.
Hedge fund professionals will benefit from a completely integrated credit derivative workflow within Paladyne Security Master and Paladyne Price Master products resulting in increased accuracy, efficiency and standardization of derivative trading with counterparties. Paladyne has integrated Markit RED, Markit iTraxx and Markit CDX index constituent data, single name credit curves and other Markit content.
Markit RED (Reference Entity Database) is the industry standard for reference entity and reference obligation identifiers used throughout the credit default swap (CDS) markets, including on-line trading, standard documentation and trade settlement.
The PALADYNE product suite includes order management, real-time P&L and portfolio management, portfolio accounting, custom reporting, data warehousing and analytics, and reference data management. By offering securities terms and conditions, corporate actions, and end-of-day pricing and valuation data from Markit within its hosted product suite, Paladyne can provide seamless and immediate access to data in order to meet the demanding trading and operational and decision-support requirements of today's hedge funds.
"We are very pleased that Paladyne has become a certified partner having successfully integrated Markit's CDS Pricing and Markit RED into its first-class front-to-back office suite," said Nicola von Schroeter, Managing Director of the Markit Alliance Partner Program.
"This partnership with Markit is another valuable tool for the users of our hosted PALADYNE suite," said Sameer Shalaby, Chief Executive Officer, Paladyne Systems. "We are continually expanding the overall functionality of our hedge fund technology platform and by teaming with Markit, we are able to offer our hedge fund customers immediate access to credit pricing and reference data from one of the market's leading sources."
The PALADYNE suite is available either as a fully hosted solution or as an on-site local installation.