Linedata Services (Bloomberg: LIN.FP), announced today that a unit and certain affiliates of SunTrust Banks ("SunTrust") are live on LongView Trading Order Management System (OMS) and Linedata Compliance, using Linedata Services' new Linedata Hosting solution.
Linedata Hosting gives clients a hybrid of an enterprise-like installation, where clients license the software and control it themselves, and ASP delivery, where clients access the system via a web-based deployment from a service provider's facility. SunTrust is live on an enhanced Linedata Hosting solution with Linedata hosting the entire IT infrastructure for LongView OMS and Linedata Compliance at its data center in Boston, and includes managing the interfaces, custom development, and providing dedicated support and IT staff for both products.
"This go-live represents another significant first for LongView OMS, continuing its long string of innovations in the electronic trading marketplace. With Linedata Hosting, the SunTrust unit and affiliates retain control over the system, while deferring a large portion of the overhead and expense of managing the platform," said Annie Morris, Managing Director of Linedata in North America. "This offers users the advantage of both ownership and ASP delivery, giving them the best of both worlds."
The deal spans multiple divisions and lines of business at SunTrust, across offices throughout the Southeastern and Mid-Atlantic regions of the United States. The deal puts the LongView OMS and Linedata Compliance on the desktops of users in GenSpring Family Offices, SunTrust Bank's Personal Asset Management group, and RidgeWorth Capital Management, Inc, which combined services affluent, wealthy, high net worth and institutional clients.
This new deal builds on a relationship that Linedata Services has had with SunTrust for more than four years.
"Linedata Hosting enhances the overall quality of these products, while lowering our overhead," said Sean Porrello, RidgeWorth's Director of Investment Technology. "With this arrangement, resources are free to focus our efforts on superior client service and investment performance. Linedata Services takes care of everything else."