Asset Control, a world-wide leader in financial data management solutions, today announced that Citadel Solutions, a wholly-owned independent subsidiary of Citadel Investment Group, has implemented Asset Control's AC Plus data management software.
Citadel Solutions delivers Operational Alpha to hedge funds through its technology-driven hedge fund administration services and uses AC Plus as a primary data management platform for supporting its fast growing fund administration business.
AC Plus supports Citadel Solutions' middle- and back-office services through the delivery of market data to Citadel Solutions' proprietary fund administration system. By combining this proprietary technology with the AC Plus' flexible data model, Citadel Solutions has the ability to perform a broad range of critical data analyses. AC Plus provides Citadel Solutions' hedge fund clients with faster time to market in servicing new products regardless of complexity, along with increased transparency and the ability to scale easily for rapid growth.
John Buckley, president of Citadel Solutions, said, "Having proved the superior value of robust middle- and back-office technology within Citadel Investment Group, we wanted to offer this same functionality to other hedge funds in the early stages of growth. AC Plus was quick and easy to implement, while providing a robust foundation that is flexible and extensible enough for the diverse and varying needs of our clients."
Phil Lynch, Asset Control's president and chief executive officer, said, "Citadel Solutions' decision to use AC Plus for its fund administration services demonstrates the value of robust data management and its potential to generate revenue. Asset Control helps to take the operational burden out of data management, with Citadel Solutions as an example of a firm that is harnessing AC Plus' capabilities to streamline data capture and standardize its distribution. By using AC Plus to enrich the platform it provides, Citadel Solutions is able to gain a competitive advantage through the application of advanced technologies."